Section 5
SEC. 5. This franchise shall not take effect until the President of the Philippines shall have allotted to the grantee the frequencies and wave-lengths to be used thereunder and determined the stations to and from which each such frequency and wave-length may be used, and issued to the grantee a license for such use. The grantee shall begin operation under this franchise within three years from the date on which said license shall have been issued by the president of the Philippines.