§ 6. Transfer Of Ownership  


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  • A. Franchisee shall not sell, transfer, lease, assign, sublet, or dispose of, in whole or in part, either by forced or involuntary sale, or by ordinary sale, consolidation, or otherwise, this Franchise or any of the rights or privileges granted by such Franchise, without the prior written consent of the City. Such consent shall not be unreasonably withheld, delayed or denied. The City reserves the right to be reimbursed for its reasonable costs relating to a transfer of ownership.

    B. Any assignment or transfer shall not require consent of the City when the Franchise is assigned, sold or transferred between wholly-owned subsidiaries of a parent corporation, provided that Franchisee provides advance written notice to the City. In all such instances, the assignee or new owner shall be responsible for all Franchise requirements and obligations.