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herein is not limited to majority stock ownership, but includes actual working <br />control in whatever manner exercised. In any event, as used herein, a new <br />"controlling interest" shall be deemed to be created upon the acquisition through <br />any transaction or related group of transactions of a legal or beneficial interest <br />of fifteen percent (15%) or more by one Person. Acquisition by one Person of <br />an interest of five percent (5%) or more in a single transaction shall require <br />notice to the City. <br /> <br />10.5.3 The Grantee shall file, in addition to all documents, forms and information <br /> required to be filed by applicable law, the following: <br /> <br />10.5.3.1 <br /> <br />All contracts, agreements or other documents that constitute the <br />proposed transaction and all exhibits, attachments, or other <br />documents referred to therein which are necessary in order to <br />understand the terms thereof; <br /> <br />10.5.3.2 <br /> <br />A list detailing all documents filed with any state or federal agency <br />related to the transaction including, but not limited to, the MPUC, <br />the FCC, the FTC, the FEC, the SEC or MnDOT. Upon request, <br />Grantee shall provide City with a complete copy of any such <br />document; and <br /> <br />10.5.3.3 <br /> <br />Any other documents or information related to the transaction as <br />may be specifically requested by the City. <br /> <br />10.5.4 The City shall have such time as is permitted by federal law in which to review <br /> a transfer request. <br /> <br />10.5.5 <br /> <br />Grantee shall reimburse City for all the reasonable legal, administrative, <br />consulting costs and fees associated with the City's review of any request to <br />transfer. Nothing herein shall prevent Grantee from negotiating partial or <br />complete payment of such costs and fees by the transferee. Grantee may not <br />itemize any such reimbursement on Subscriber bills, but may recover such <br />expenses in its Subscriber rates. <br /> <br />10.5.6 <br /> <br />In no event shall a sale, transfer, corporate change, or assignment of ownership <br />or control pursuant to subsections 10.5.1 or 10.5.2 of this Section be approved <br />without the transferee becoming a signatory to this Franchise and assuming all <br />rights and obligations hereunder. <br /> <br />10.5.7 <br /> <br />In the event of any proposed sale, transfer, corporate change, or assignment <br />pursuant to subsection 10.5.1 or 10.5.2, the City shall have the right to purchase <br />the System for the value of the consideration proposed in such transaction. The <br />City's right to purchase shall arise upon City's receipt of notice of the material <br />terms of an offer or proposal for sale, transfer, corporate change, or assignment, <br />which Grantee has accepted, Notice of such offer or proposal must be conveyed <br /> <br />50 <br /> <br /> <br />