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- 25 - <br /> <br /> (e) Grantor's Right Not Affected. The termina- <br /> tion and forfeiture of any franchise shall in no way affect <br /> any of the rights of the Grantor under the franchise or any <br /> provision of law. <br /> <br /> 4.16 Receivership and Foreclosure. <br /> <br /> (a) Any franchise herein granted shall, at the <br /> <br /> option of the Grantor, cease and terminate one hundred twenty <br /> (t20) days after the appointment of a receiver or receivers or <br /> trustee or trustees to take over and conduct the business of tke <br /> Grantee whether in a receivership, reorganization, bankruptcy <br /> <br />lot other action or proceeding unless such receivership or <br />~!trusteeship shall have been vacated prior to the expiration of <br />said one hundred twenty (120) days, or unless: <br /> <br /> (1) Such receivers or trustees shall-have, <br /> within one hundred twenty (120) days after their election or <br /> <br /> appointment, fully complied with all the terms and provisions <br /> of this ordinance and the franchise granted pursuant hereto, <br /> and the receivers or trustees within said one hundred twenty <br /> (120) days shall have remedied all defaults under the franchise; <br /> and, <br /> <br /> (2) Such receivers or trustees shall, <br /> <br />within said One hundred twenty (120) days, execute an agree- <br />ment dul~, approved by the Court having jurisdiction on the <br />premises, whereby such receivers or trustees assume and agree <br />to be bound by each and every term, provision and limitation <br />of the franchise agreement. <br /> <br /> <br />