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� �,,� <br /> to the transfer of the Franchise. If the Grantor has not taken action on the <br /> Grantee's request for transfer within one hundred twenty (120) days after <br /> receiving such request, Grantor's consent to such transfer shall be deemed <br /> given. The consent of the Grantor to such transfer shall not be unreasonably <br /> denied or delayed. <br /> (e) Any financial institution having a pledge of the Grantee or its <br /> assets for the advancement of money for the construction and/or operation of the <br /> Franchise shall have the right to notify the Grantor that it or its designee <br /> satisfactory to the Grantor shall take control of and operate the Cable System, in <br /> the event of a Grantee default of its financial obligations. Further, said financial <br /> institution shall also agree in writing to continue Cable Service and comply with <br /> all Franchise requirements during the term the financial institution exercises <br /> control over the System. <br /> (fl Upon transfer, Grantee shall reimburse Grantor for Grantor's <br /> reasonable processing and review expenses in connection with the transfer of <br /> the Franchise including without limitation, costs of administrative review, <br /> financial, legal and technical evaluation of the proposed transferee, consultants <br /> (including technical and legal experts and all costs incurred by such experts), <br /> notice and publication costs and document preparation expenses. Any such <br /> reimbursement shall not be charged against any Franchise Fee due to Grantor <br /> during the term of the Franchise. <br /> SECTION 3 GENERAL REQUIREMENTS <br /> 3.1 Governing Requirements <br /> Grantee shall comply with all lawful requirements of this Agreement and <br /> applicable State and Federal law. <br /> 9 <br /> sh/RWC/Council <br /> AGMT-382 <br /> FXS/fs <br /> 08/02/00 <br />