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ORDINANCE OF THE CITY OF JONESBORO, AR CONSENTING TO THE ASSIGNMENT OF THE CABLE TELEVISION SYSTEM FRANCHISE FROM EAST ARKANSAS CABLEVISION, INC. TO TCA CABLE PARTNERS
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WHEREAS, East Arkansas Cablevision, Inc. an Arkansas corporation (“East Arkansas”), currently owns and operates a cable television system in the City of Jonesboro, AR pursuant to a franchise granted by the City of Jonesboro, as set forth in Ordinance No. 1919 dated April 1, 1985 (the “Franchise”).
WHEREAS, East Arkansas and TCA Cable Partners, a Delaware general partnership (“TCA”), have entered into an agreement whereby East Arkansas will sell and convey the assets of its cable television system serving the City of Jonesboro (the “System”) to TCA, including all right, title and interest of East Arkansas in the Franchise.
NOW, THEREFORE, BE IT RESOLVED by the City of Jonesboro as follows:
(1) The City of Jonesboro has determined that TCA has the ability to provide the services required under the Franchise for the System and hereby consents to and approves, subject to applicable laws, the assignment by East Arkansas of its right, title and interest in the Franchise to TCA and the assumption by TCA of the obligations of East Arkansas under the Franchise which accrue from and after the Closing Date (as hereinafter defined). In connection with the foregoing, the City of Jonesboro hereby releases East Arkansas, effective upon the Closing Date, from all obligations and liabilities under the Franchise that accrue on and after the Closing Date.
(2) The City of Jonesboro confirms that: (a) the Franchise was properly granted; (b) the Franchise is currently in full force and effect and expires on April 26, 2000; 8 East Arkansas performance under the Franchise has been satisfactory and East Arkansas is in material compliance with the provisions of the Franchise and with applicable law; (d) there exists no known fact or circumstance which constitutes, or which with the passage of time or the...
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