Section 8
SEC. 8. In the event of any competing person, natural or juridical, receiving from the Congress of the Philippine a similar franchise in which there shall be any term or terms more favorable than those granted or tending place the herein grantee at any disadvantage, then such term or terms shall ipso facto become, a part of the ten hereof and shall operate equally in favor of the gram as in the case of such competing person: Provided, however,That the grantee may lease, sell, grant,convey, assign,give inusufruct,or transfer this franchise and all properties and rights acquired thereunder to qualified individual, association, or corporation competent to operate the business hereby authorized: Provided further, That the grantee is hereby authorized to mortgage this franchise in favor of any government-owned or controlled corporation or financing institution: And provided,finally, That all properties or equipment used in the business are also mortgaged together with said franchise.