[Ord. 212. Passed 1-22-1985]
All of the rights and privileges and all of the obligations, duties and liabilities created by a contract with the Company for a cable television system, and by this chapter, shall pass to and be binding upon the successors and assigns of the Township and the successors and assigns of such Company. However, the Company shall not make any assignment or transfer without the written approval of the Board of Supervisors. Any proposed transferee or assignee of the Company shall be ready, willing and able to accept the covenants of the contract and this chapter and its amendments and shall prove to the satisfaction of the Township (which satisfaction shall not be unreasonably withheld) that it is financially, technically and administratively capable of assuming the rights, obligations, duties and liabilities created by the contract and this chapter. A contract shall not be transferred or assigned by a Company unless and until the cable television system authorized by this chapter is completely constructed and in operation. Notwithstanding the above, this section shall not prevent the assignment of a contract by the Company as security for debt without such approval. Further, the transfer or assignment of a contract between the company and any parent, subsidiary or affiliated (fifty percent or more common ownership) corporation shall be permitted without the prior approval of the Board, provided that the Company remains liable on all obligations under the contract.