3 TERMS OF THE AGREEMENT

3.1 Effective Date

The Effective Date of the Agreement shall mean the date when this Agreement has been signed by the GOVERNMENT and the CONCESSION HOLDER after its registration as a joint stock company under the laws of East Timor, or under the laws of the agreed jurisdiction of COUNTRY_NAME .

3.2 Term

The term of this Agreement shall be ENTER DURATION years, beginning on the Effective Date.

3.3 Extension

This Agreement shall expire naturally at the conclusion of the term specified in Section 3.2 Term.

This Agreement shall be extended for an additional period of ENTER DURATION years, if the CONCESSION HOLDER so requests no less than ENTER DURATION years prior to the expiration of the term specified in Section 3.2 Term. This extension shall be granted on condition that the GOVERNMENT agrees that such extension is consistent with the national public interest of East Timor, and if the CONCESSION HOLDER has performed its obligations under the Agreement. In any event, the parties may always agree to enter a new CONCESSION agreement, proceeding from normative acts applicable in East Timor.