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The keyword in the agreement is the ambiguous term pajakkan, a Malay term which was translated by Spanish linguists in 1878 and by American anthropologists H. Otley Beyer and Harold Conklin in 1946 as "arrendamiento" or "to lease".
In July 1991, the negotiators agreed on a draft agreement titled the Treaty of Friendship, Peace and Cooperation, proposing the clean-up and turn over of Clark to the Philippine government in 1992, and extending the lease of Subic Bay Naval Base by the US for ten years.
The Supreme Court releases its ruling dated November 13, 2023, declaring that the estate of former President Ferdinand Marcos presently administered by President Bongbong Marcos has no ownership rights over a 57.68-hectare (142.5-acre) property in Paoay, Ilocos Norte by declaring the 25-year lease contract between the former president and the ...
The lease rights were transferred a year later to Prime Orion Philippines Inc. under its subsidiary Tutuban Properties Inc. The company, a merger between First Lepanto Corp. and Guoco Group of Hong Kong, has since managed the site and, in 2009, secured another 25-year lease renewal beginning September 2014. [5]
The MRT-3 will be handed over by the Metro Rail Transit Corporation to the national government upon the end of its build-lease-transfer contract. [12]The MRT Line 7 will be operational for its initial 12 stations from North EDSA in Quezon City to Sacred Heart in Caloocan.
The lease can be extended in 2018 if the first stage from 2015 to 2018 was successful. Russia needed the Chinese funds to replace a shortfall caused by international sanctions. [12] [13] The Transbaikal region borders with China, and the lease agreement stirred up a maelstrom of controversy and anxiety in Russia. [14]
The first line, the MRT Line 3, began construction in October 1996 after the Metro Rail Transit Corporation, a consortium of local companies, was awarded a build-lease-transfer contract. In 1997, MRTC entered into a turnkey contract with Sumitomo Corporation and Mitsubishi Heavy Industries for the line's construction. [20]
A 1947 Military Bases Agreement [40] gave the United States a 99-year lease on a number of Philippine military and naval bases in which U.S. authorities had virtual territorial rights. [41] In August 1951, a mutual defense treaty (MDT) was signed between representatives of the Philippines and the United States. The overall accord contained ...