Section 4
SEC. 4. The grantee shall not exercise any right or privilege under this franchise nor commence any construction thereunder, unless and until the grantee shall first file with the Public Service Commission within one hundred and twenty days from the date of the approval of this Act: Its written acceptance of the terms and provisions of this Act; Its written acceptance of the terms and conditions of the certificate of convenience and public necessity required by law for the granting of this franchise and issued by the Public Service Commission of the form and character provided for in Commonwealth Act Numbered One hundred and forty-six, as amended; and A document or documents evidencing receipt the Treasurer of the Philippines of the deposit or deposits required by law for each certificate of convenience and public necessity as an earnest proof of good faith and guaranty that the grantee shall complete the work within the period to be fixed by the Commission. If the grantee shall not commence the manufacture and distribution of ice and the supplying of cold storage in the places referred to in the certificate of convenience and public necessity, obtained and filed as herein provided, within such period as the Public Service Commission or its legal successor shall have fixed, unless prevented by an act of God or force majeure, martial law, riot, civil commotion, usurpation by a military power or any other cause beyond the grantee's control, said Commission or its legal successor may in its discretion declare such certificate to be null and void, and the deposit or deposits made by the grantee forfeited in favor of the National Government.