Common use of Extension of Project Term Clause in Contracts

Extension of Project Term. The IR Operator is entitled to apply for extension of the Project Term at the expiration of the Project Term. From the perspective of whether the continuation of the IR Business will contribute to sustainable economic development of Osaka and Kansai region as well as the strengthening of the international tourism site, etc., the extension period and conditions, etc. (including the investment plan after the extension of the Project Term) shall be discussed by Osaka Pref./City and the IR Operator on the assumption that the IR Business will be continued. The Project Term shall be extended for 30 years in principle, but this may be extended or shortened by mutual agreement between Osaka Pref./City and the IR Operator.