The franchisee shall notify the city promptly of any proposed change in, transfer of, or acquisition by any other person of control of the franchisee or any parent company. For purposes of the ordinance codified in this title, a change of control of the parent company will be deemed to have taken place upon the transfer of ten (10) percent or more of the common stock, shares, or units of such parent company to an unaffiliated entity. Every such change shall make the franchise agreement void and terminated unless and until the city has granted consent. (Ord. 205 § 3, 2001)