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§12.1
Consent Of City Required.
The Company shall not transfer or assign any rights under this franchise to an unaffiliated
third party, except by merger with such third party, or, except when the transfer
is made in response to legislation or regulatory requirements, unless the City approves
such transfer or assignment in writing. Approval of the transfer or assignment shall
not be unreasonably withheld.
§12.2
Transfer Fee.
In order that the City may share in the value this franchise adds to the Company's
operations, any transfer or assignment of rights granted under this franchise requiring
City approval, as set forth herein, shall be subject to the condition that the Company
shall promptly pay to the City a transfer fee in an amount equal to the proportion
of the City's then-population provided Utility Service by the Company to the then-population
of the City and County of Denver provided Utility Service by the Company multiplied
by one million dollars ($1,000,000.00). Except as otherwise required by law, such
transfer fee shall not be recovered from a surcharge placed only on the rates of Residents.
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