94-05 Adelphia to Time Warner - Laserfiche WebLink

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request to approve the Transfer as described in FCC Form 394 dated June 1Q, 2005 and submitted to the City on or about June I5, 2005 and additional information submitted by Time blamer subsequent to June 15, 2005. D. Within thirty (30) days of the Transfer, Time blamer Cable Inc, shall execute and provide the City with a guaranty That will require it, as the parent company, to perform all obligations under which TWNY may tie in default in connection with its operation of the Cable Franchise in the Ciry of Lakewood, Ohio. E. Within thirty (30) days of the Transfer, TWNY shall provide the City with a certificate of insurance in compliance with SecSan 6 of the Franchise Agreement. F Within thirty (30) days of the Transfer, TWNY shall provide the City with & Performance Bond in compliance with Section 7 of the Franchise Agreement.. G. The Transfer shall be completed by October 1, 2006. FI. TWNY shall execute the Franchise Transfer Acceptance attached to this Ordinance as Exhibit. A within ten (10). business days of the passage of this Ordinance, indicating that it assumes and is bound by the terms and conditions of this Ordinance and all obligations of the Franchise under the Franchise Agreement from and after the time of Transfer. L. Time Warner and Adelphia agree and acknowledge that the City reserves any and all rights it may have under the Adelphia bankruptcy proceedings in the United States Bankruptcy Court for the Southern District of New York, Case No. 02-41729 (REG) including but riot limited to each and every default, liability, breach or obligation, whether presently known or unknown, that may be asserted pursuant to the court ordered procedures governing the determination of cure amounts and the assumption and assignment of the Franchise Agreement. ' Section 2: The failure of Adelphia and/or TWNY or Time Warner Cattle Inc. to satisfy each of their respective conditions in Section 1 above within the time specified shall mean that the Transfer is disapproved, and the City's consent to the Transfer is denied, by operation of this Ordinance as of its effective date, unless such failure is cured within fifteen (1~ days of notice of said failure to TWNY. Section 3: It is found and determined that all formal actions by the Council concerning and retaking to the adoption of this Ordinance were adopted in an open meeting of this Council and that all deliberations of this Council, and of any of its conmtittees that resulted in such formal action, were in meetings open to the public in compliance with all legal requirements of Section 121.22 of the Ohio Revised Code. Section 4: The Clerk of CouncIl is hereby duetted to serve a certified copy of this Ordinance by certified rnail upon Adelptria and TWNY. Section 5: That this ordinance. is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, property, health, safety and welfare in the City and for'the usual daily operation of the City for the reasons set forth and defined in the preamble to this ordinance, and provided it receives the affirmative vote of at least five (5) of 8S 452494-t