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area as the Board shall determine; and thereafter, the <br />territory shall be only the area sept forth in the reso- <br />lution adopted by the Board. <br />The Corporation or its Shareholders shall not sell or <br />transfer ;,+v-- rl�::ts or aystGms or co poa:aLe Stock to another <br />or transfer any rights under this franchise to another <br />without the approval of the Board. No such sale or transfer <br />after such approval shall be effective until the vendee, <br />assignee or lessee has filed with the Board an instrument in <br />writing reciting the fact of such transfer and accepting the <br />terms of this franchise and agreeing to perform all of the <br />conditions thereof. In any event, this franchise shall not <br />be transferable and assignable until notice or request for <br />transfer and assignment shall be given by the Corporation to <br />the Board in writing accompanied by a request from the <br />proposed transferee, which application shall contain infor- <br />mation concerning the financial status and other qualifications <br />of the proposed transferee and such other information as the <br />Board may require. A public hearing shall be held on such <br />request, of which notice shall be given by publication in a <br />newspaper regularly published in the County at least one <br />time not more than one month or less than one week preceding <br />such hearing. Certified proof of publication of such notice <br />shall be filed with the Board. The Board shall act within <br />ninety (90) days upon such request. The consent by the <br />Board to any assignment of this franchise shall not be <br />unreasonably withheld. Any sale or transfer by the Corpor- <br />ation or Shareholders of the Corporation taking place <br />contrary to the terms and conditions of this paragraph <br />shall be considered by the Board to be a default by the <br />Corporation under this franchise agreement and subject this <br />franchise to termination. <br />- 10 - <br />