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DPS \56925 \478939.02 <br />DRAFT CITY OF LOUISVILLE ORDINANCE <br />The City and the Company agree to meet, as required, to review the progress of the <br />current undergrounding projects designated by the City and to review planned future <br />undergrounding projects. The Company need not approve an undergrounding project if it <br />would create a significant risk to safety or operational integrity, but it shall provide to the <br />City written notification of any such nonapproval and the basis for nonapproval. <br />§9.5 Cooperation with Other Utilities. When undertaking a project of undergrounding, the <br />City and the Company shall work with other utilities or companies which have overhead <br />lines to attempt to underground all such lines as part of the same project. When other <br />utilities or companies are placing their lines underground, the Company shall cooperate <br />with those utilities and companies and undertake to underground Company facilities as <br />part of the same project where financially, technically and operationally feasible. <br />Notwithstanding the foregoing, nothing in this paragraph shall require the Company to <br />pay for undergrounding of its distribution lines except as required by Article 4 of this <br />franchise ordinance. <br />ARTICLE 10 <br />TRANSFER OF FRANCHISE <br />§10.1 Consent of City Required. The Company shall not transfer or assign, in whole or in part, <br />any rights under this franchise to an unaffiliated third party, except by merger with such <br />third party, or, except when the transfer is made in response to legislation or regulatory <br />orders, unless the City shall approve in writing such transfer or assignment. Approval of <br />the transfer or assignment shall not be unreasonably withheld. <br />§10.2 Transfer Fee. In order that the City may share in the value this franchise adds to the <br />Company's operations, any transfer or assignment of rights under this franchise requiring <br />the approval of the City under Section 10.1 shall be subject to the condition that the <br />transferee shall promptly pay to the City a transfer fee, which shall be calculated by <br />-13- <br />