Neither the franchise, the assets held by grantee under the franchise ordinance codified
in this chapter, nor any rights or privileges of grantee under the franchise ordinance
codified in this chapter, grantee's system capacity, or allowance of access to grantee's
system, either separately or collectively, shall be sold, resold, assigned, transferred
or conveyed by grantee to any other person, firm, corporation, affiliate or entity,
without the written consent of the metropolitan government by ordinance of the council,
which permission shall not be unreasonably withheld. In the event that the purchaser
is the holder of a like franchise, the franchise purchased shall be canceled and merged
into the franchise held by the purchaser upon such terms and conditions as may be
set out by the council when permission for assignment is granted. Should the grantee
sell, assign, transfer, convey or otherwise dispose of any of its rights or its interests
under the franchise ordinance codified in this chapter, or attempt to do so, in violation
of this requirement to obtain prior consent, the metropolitan government may revoke
this franchise for default, in which event all rights and interest of the grantee
shall cease and no purported sale, assignment, transfer or conveyance shall be effective.
