§ 38-30. Right of revocation.

(a)

The board may declare the franchise herein granted to be forfeited and terminated upon the happening or discovery of any of the following events:

(1)

Century adjudicated a bankrupt;

(2)

Century becomes insolvent;

(3)

Century is placed in receivership;

(4)

Century practices fraud or deceit upon the town, its agents, and employees or upon the subscribers;

(5)

Century fails to comply with material requirements of this agreement.

(b)

Upon such violation by Century of any such material obligation as described above contained herein, the board will provide written notice to Century 30 days subsequent to such written notice, if Century fails to comply and has not commenced reasonable action to bring about such compliance, the board may terminate this agreement upon ten days written notice to Century.

(c)

In determining a material violation for purposes of this franchise, the town shall take into consideration the reliability of the evidence of the violation, nature of the violation, whether the violation was chronic, the person bearing the impact of the violation, the nature of the remedy required in order to prevent further such violations, and such other matters as the town may deem appropriate.

(Prior Code, § 9-1-12)