Sec. 710.115. - Foreclosure; receivership.

Upon receiving notice of an intended foreclosure or judicial sale, or intended appointment of a receiver or trustee whether in receivership, reorganization, bankruptcy or other action or proceeding or intended proceeding, concerning operations in the Franchise Area, or upon notification of the termination of any lease covering all or a substantial part of the system in the Franchise Area, the Franchisee shall immediately notify the City of this fact, and the notification shall be treated as a material breach and default, with the opportunity being given to cure such default within 30 days of the notice to Franchisee from the third party. (Ord. 2003-188-E, § 1)