At the expiration of the present and all subsequent renewal terms for which a franchise is granted, or upon its revocation as provided for herein, the franchisee shall remove, at its expense, all or any portion of the cable system from all streets and public rights-of-way within its franchise area. In doing so, the franchisee shall return all disturbed areas to their condition existing prior to the franchise installation of its cable system, including but not limited to, where necessary, refilling and compacting all disturbed areas. All such work shall be done at the franchisee's sole cost and expense and shall be subject to inspection and approval by the Township, whose inspection fees shall be paid by the franchisee.
Neither franchisee nor its parent nor any affiliated entity shall transfer, assign or otherwise encumber, through its own action or by operation of law, its right, title or interest in the cable system or in the franchise agreement without the prior written consent of the Township.
Neither franchisee nor its parent or any affiliated entity shall change, transfer or assign, through its own action or by operation of law, its control of the cable system or of the franchise agreement without the prior written consent of the Township.
Neither franchisee nor its parent nor any affiliated entity shall sell, convey, transfer, exchange or release more than 25% of its equitable ownership in the cable system without the prior written consent of the Township.
The franchisee shall make written application to the Township of any transfer, change in control or assignment as described above and shall provide all information required by FCC Form 394 and any other applicable federal, state and local statutes and regulations regarding transfer or assignment. Within 30 days of receiving an application, the Township shall, in accordance with FCC rules and regulations, notify the franchisee in writing of the additional information, if any, it requires to determine the legal, financial and technical qualifications of the proposed transferee. The Township shall consider the legal, financial and technical qualifications of the proposed transferee when determining if it should approve the transfer. If the Township has not taken action on the franchisee's application within 120 days after receiving such request, consent for the transfer, change in control or assignment shall be deemed given.
Any consent by the Township for any transfer, change in control or assignment described above shall not be effective until the proposed transferee or assignee shall have executed a legally binding document stating that it shall be bound by all the terms and conditions contained in the existing franchise agreement.
No such consent shall be required, however, for a transfer in trust, by mortgage, hypothecation, or by assignment of any rights, title or interest of franchisee in the franchise or in the cable system to a financial institution in order to secure indebtedness, or a transfer to an entity owned and/or controlled by franchisee.
Approval by the Township of a transfer or assignment of a franchise or change in control of a franchisee does not constitute a waiver or release of any of the rights of the Township under this chapter or the franchise agreement, whether arising before or after the date of the transfer.