Common use of (CONCESSION TERMS Clause in Contracts

(CONCESSION TERMS. 1. The term of the initial period of concession is of 13 (thirteen) years, counting as from the date of entering into of this contract, pursuant to item b), no. 2 of article 84 of DL 109/94, being understood that it may be extended, twice, for periods of 1 (one) year, as per nos. 4 and 5 of article 35 of DL 109/94, without prejudice to the waiver right (“drill or drop”), of the Concession Holder, as per article 63 of that same statute.