To the extent permitted by federal or state law, a grantee’s right, title, or interest in an approval granted hereunder may not be sold, transferred, assigned, or encumbered, other than to an entity controlling, controlled by, or under common control with the grantee, without the prior consent of the City; provided, that consent by the City will not be unreasonably denied, conditioned, or withheld. No consent is required for a transfer in trust, by mortgage, by other hypothecation, or by assignment of any rights, title, or interest of the grantee in its equipment or facilities in order to secure indebtedness. [Ord. 3287 § 1, 1998; Code 1970 § 15.70.320.]