Section 15
SEC. 15. The grantee may, with the prior approval of the Public Utility Commission, sell, lease, give, grant, convey, or assign this franchise and all property and rights acquired thereunder to any person or corporation: Provided, That for the purposes of the sale, lease, donation, grant, or transfer, it shall be necessary to file in the office of the Secretary of Commerce and Communications an agreement in writing by which the purchaser, lessee, donee, or assignee shall bind himself to comply with all terms and conditions imposed upon the grantee by the franchise, and to accept the franchise subject to all existing terms and conditions.