For purposes of this Agreement:
- (a)the term "territory" means:
- (i)with respect to the Republic of the Philippines, the territory defined in Article 1 of its Constitution;
- (ii)with respect to the Kingdom of the Netherlands, the territory which constitutes the Kingdom of the Netherlands.It includes the maritime areas adjacent to the coast of the Contracting Party concerned, to the extent to which that Party may exercise sovereign rights or jurisdiction in those areas according to international law.
- (b)the term "nationals" shall comprise, with regard to a particular Contracting Party, of:
- (i)natural persons having the nationality of that Contracting Party in accordance with its laws;
- (ii)without prejudice to the provisions of (iii) hereafter, legal persons constituted in accordance with the law of that Contracting Party and actually doing business under the laws in force in any part of the territory of that Contracting Party wherein a place of effective management is situated;
- (iii)legal persons controlled, directly or indirectly, by nationals of that Contracting Party but constituted in accordance with the law of the other Contracting Party.
- (c)the term "investment" shall comprise every kind of asset of lawful commerce and more particularly, though not exclusively, includes:
- (i)movable and immovable property as well as any other property rights such as mortgages, liens, and pledges;
- (ii)shares, stocks, and debentures or any interest in the property of nationals;
- (iii)claims to money or to any performance having a financial value;
- (iv)intellectual and industrial property rights, technical processes, knowhow and goodwill;
- (v)business concessions conferred by law or under contract in accordance with or pursuant to law.
- (d)the term "earnings" shall mean amounts yielded by an investment, particularly, though not exclusively, profits, interest, capital gains, dividends, royalties or fees.
