The company shall not sell or transfer its plant or cable system to another, nor transfer any rights under any franchise granted to another other than an affiliate of the company without council approval. Provided, that no sale or transfer shall be effective until the vendee, assignee or lessee has filed in the office of the city clerk an instrument duly executed reciting the fact of such sale, assignment or lease accepting the terms of the franchise and agreeing to perform all the conditions thereof. Such council approval will not be unreasonably withheld. (Ord. 496 § 2 (part), 1993)