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Upon receiving a transfer application, the City may require additional information from the grantee or the proposed transferee as required to evaluate the proposed transaction, and both shall cooperate to provide the information to the City. The City shall be under no obligation to transfer the franchise if the grantee’s acts or omissions make the franchise subject to revocation; nor shall the City be required to transfer the franchise unless it is fully satisfied that any interests it or the public has in the franchise will be fully preserved and protected, that past nonperformance will be corrected, and that the proposed transferee has the ability and is likely to comply with the franchise in the future. Under no circumstances shall the franchise be transferred unless the proposed transferee agrees to accept all the terms and conditions of the franchise, agrees that the transfer does not constitute a waiver of any rights by the City or indication that the prior grantee is or has been in compliance with the franchise, and agrees to assume all the obligations and liabilities of the prior grantee. The City may conduct such public hearings as it deems appropriate to consider the transfer request. (Ord. #80-97, S24)