Section 17Sec./Art. 17

Revenue Sharing with the Government. -During the term of this franchise and after the BIR has determined that the grantee, its successors or assignees, has fully recovered its investment cost on the Airport City, the grantee, its successors or assignees, shall be entitled to generate income from the Airport city equivalent to a project Internal Rate of Return (IRR) of twelve percent (12%) per annum. Any amount in excess of the twelve percent (12%) IRR of the Airport City shall be remitted to the National Government.

The IRR of the Airport City shall be reckoned and calculated within three (3) months after the BIR determined that the grantee, its successors or assignees, has fully recovered its investment cost on the Airport City. The grantee, its successors or assignees, shall remit the share of the National Government immediately after the IRR of the Airport City has been determined.