Any assignment of franchise or transfer of ownership or control of franchisee without the prior consent of the city shall null and void the franchise unless later ratified by the city and shall: (i) be deemed a material breach of an agreement and (ii) among and/or in addition to other remedies available to the city, be subject to a liquidated damages assessment, on a daily basis, until the taking of a transfer or assignment is approved, or if not approved, until the prior ownership, control or other status quo ante is restored to a condition satisfactory to the city. Failure to meet the requirements of this section will result in foreseeable damages in an amount specified in the section titled, “liquidated damages.” Both the franchisee and the assignee/transferee shall be jointly and severally liable for liquidated damages accrued pursuant to this section. (Ord. 205 § 3, 2001)