[Letterhead of the Department of Finance]
[Date]
[Name and address of Company]
Gentlemen:
Subject: Government Performance Undertaking - [Project]
In my capacity as the Secretary of Finance of the Republic of the Philippines (the "Republic"), I hereby deliver this undertaking letter (the "Undertaking") on behalf of the Republic in connection with the execution on [•] of the Concession Agreement (the "Agreement") between the [•] (the "Agency"), and [•], a corporation duly organized and existing under the laws of the Republic of the Philippines with its principal office at [•] (the "Company"). This letter is furnished to you as contemplated by Section 2.1(r) of the Agreement. All terms used but not otherwise defined in this letter shall have the meanings given to them in the Agreement.
In connection with your entering into the Agreement, the Republic hereby undertakes with you as follows: