HomeMy WebLinkAbout3293RESOLUTION NO. 3293
A RESOLUTION of the City Council of the City of
Bremerton, Washington, .granting consent and approval to change
of control transaction. 1
WHEREAS, WAVE Division IV, LLC d/b/a WAVE, a Washington limited
liability company, currently holds a franchise (the "Franchise") granted by the City of Bremerton
(the "City") to own and operate a cable system in the City; and
WHEREAS, franchisee is a wholly-owned subsidiary of WAVE Holdco, LLC, a
Washington limited liability company ("WAVE Parent"), and
WHEREAS, on June 16, 2017, Radiate Holdings, L.P., a Texas limited liability
company, owned and controlled by the principals of TPG Global, LLC, entered into an
agreement to acquire all the outstanding membership interests of WAVE Division IV, LLC; and
WHEREAS, WAVE Holdco, LLC and Radiate Holdings, L.P.,-have filed FCC
Form 394 with the City and have provided the City with all information regarding the
Transaction required by applicable law (collectively, the "Application"); and
WHEREAS, the City has reviewed the Application and has determined that (i)
Radiate Holdings, L.P. meets the legal, technical, and financial criteria to become the owner of
WAVE Holdco, LLC and the indirect owner of franchisee, and (ii) the transaction is in the best
interest of the City; and
WHEREAS, pursuant to Section 15 of the Franchise, the City shall act by
ordinance or resolution on the request for transfer of ownership or control within 120 days of
receipt of the FCC Form 394 application, NOW THEREFORE,
THE CITY COUNCIL OF THE CITY OF BREMERTON, WASHINGTON,
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City consents to and approves of Radiate Holdings, L.P.
acquiring all the outstanding membership interests of WAVE Division IV, LLC to the extent
required by the terms of the Franchise agreement between the City and WAVE and applicable
law.
SECTION2. To the best of the City's knowledge and belief, there are no
existing facts or circumstances that with or without the giving of notice or the passage of time, or
both, would constitute a default of any term or condition of the Franchise.
SECTION3. Effective upon the closing of the transaction, the franchisee'shall
remain responsible for any obligations and liabilities under the Franchise.
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SECTION 4. This Resolution is adopted and approved in accordance with all
applicable notices and procedure requirements under all laws applicable to City, and with all
applicable notice requirements.
SECTION S. Severability. If any one or more sections, subsections, or
sentences of this resolution are held to be unconstitutional or invalid, such decision shall not
affect the validity of the remaining portion of this resolution and the same shall remain in full
force and effect.
SECTION 6. Effective Date. This resolution shall take effect and be in force
immediately upon its passage. I
PASSED by the City Council of the City of Bremerton, Washington this 6T- day
of 21932 V wx-( , 2017.
ERICYOUNGAR, Co4il President
APPROVED AS TO FORM: ATTEST:
RO ER A. LUBOV CH, City Attorney SHANNON CORIN, City Clerk
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