Franchisee cannot assign, subcontract, sell or transfer its franchise or any right
occurring under the franchise agreements without first obtaining the express written
approval of the board. Assignment shall include any transfer of 50 percent of stock
and control of franchisee. The board shall have full discretion to approve or deny,
with or without cause, any subcontract, any proposed assignment or assignment by franchisee.
Any assignment or subcontract of the franchise agreements by the franchisee without
the express written consent of the board shall be grounds for the board to declare
a default of the franchise agreements and immediately terminate the franchise agreements
by giving written notice to franchisee. Upon the date of such notice, the franchise
agreements shall be deemed immediately terminated.
(
Ord. No. 17-05
, § 3, 4-4-17)
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