WHEREAS, [state the rationale for and background of the Project];
WHEREAS, on [•], 2009, the Agency obtained the approval of the Investment Coordination Committee ("ICC") of the National Economic and Development Authority ("NEDA") to develop, finance, design, construct, commission, own, operate, manage and maintain the facilities that is capable of abstracting up to [•] cubic meters per day of raw water from [indicate raw water source], treat such raw water into potable water, and deliver such bulk treated water through a transmission pipeline into the Agency System at the Delivery Point under a build-operate-transfer ("BOT") contractual arrangement in line with Republic Act No. 6957, as amended, and its Implementing Rules and Regulations (the "BOT Law");
WHEREAS, the Company has been selected by the Agency to undertake the Project on the terms and conditions set forth in this Agreement as the result of a competitive public bidding process conducted by the Agency under the provisions of the BOT Law.
NOW THEREFORE, for and in consideration of these premises and the mutual commitments, obligations and undertakings assumed and accepted hereunder, the Parties have agreed as follows: