Section 10
SEC. 10. The grantee shall not lease, transfer, grant the Suet of, sell or assign this franchise nor the rights privileges acquired thereunder to any person, firm, any corporation or other commercial or legal entity, merge with any other company or corporation organized for the same purpose, without the approval of the tigress of the Philippines first had. Any corporation to which this franchise may be sold, transferred, or shall be subject to the corporation laws of the Philippines now existing or hereafter enacted, and any person, firm, company, corporation or other commercial or legal entity to which this franchise is sold, transferred or assigned shall be subject to all conditions, terms, restrictions and limitations of this franchise as fully and completely and to the same extent as if the franchise had been originally granted to the said person, firm, company, corporation or other commercial or legal entity.