Notwithstanding any other provision of this Subtitle, pledges in trust or mortgages of the assets of a licensed Telecommunications System to secure the construction, operation, or repair of the system may be made without application and without the City’s prior consent; except that no such arrangement may be made if it would, in any respect, under any condition, prevent the Telecommunications System Operator or any successor from complying with the License and applicable law, nor may any such arrangement permit a third party to succeed to the interest of the Operator, or to own or control the Telecommunications System, without the prior consent of the City. Any mortgage, pledge, or lease shall be subject to, and subordinate to, the rights of the City under any License, this Subtitle, or other applicable law.
(Ord. 27910 Ex. A, 2010-08-03)