No Consent Required for Transfers Securing Indebtedness. The Company will not be required to file an application or obtain the consent or approval of the City for a transfer in trust, by mortgage, by other hypothecation, by assignment of any rights, title, or interest of the Company in the System, system assets or the Franchise granted hereunder in order to secure indebtedness, provided that any such transaction must comply with § 7.8. However, the Company must notify the City within ten days after any such transaction and describe the measures taken to ensure compliance with § 7.8.
Appears in 6 contracts
Samples: Franchise Agreement, Franchise Agreement, Franchise Agreement
