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i <br />!1 <br /> <br />Il <br />Il <br /> <br />I <br /> <br />Ho <br /> <br /> stock of a corporation or the sale or transfer of all or a <br /> majority of a corporation's assets, merger (including a par- <br /> ent and its subsidiary corporation), consolidation or crea- <br /> tion of a subsidiary corporation. For the purposes of this <br /> section, fundamental partnership change means the sale or <br /> transfer of all or a majority of a partnership's assets, <br /> change of a general partner in a limited partnership, incor- <br /> poration of a partnership, or change in the control of a <br /> partnership. <br /> <br />The word "control", as used herein, is not limited to major <br />stockholders, but includes actual working control in what- <br />ever manner exercised. As a minimum, "control", as used <br />herein, means a legal or beneficial interest (even though <br />actual working control does not exist) of at least five (5%) <br />percent. Every change, transfer or acquisition of control <br />of Grantee shall make the Franchise subject to cancellation <br />unless and until City shall have consented in writing there- . <br />to, which consent shall not be unreasonably withheld. For <br /> <br />the purpose of determining whether it shall consent to such <br />change, transfer or acquisition of control, City may inquire <br />into the qualifications of the prospective controlling par- <br />ty, and Grantee shall assist City in any such inquiry and <br />pay all costs incurred by City in so inquiring, including <br />City staff time at a value determined by City. <br /> <br />In the absence of extraordinary circumstances, City will not <br />approve any transfer or assignment of the Franchise prior to <br />substantial completion of construction of System, as <br /> <br />76 <br /> <br /> <br />