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for the development of the hard mineral resources of the 
deep seabed, shall become binding upon the United States, 
no additional licenses shall be issued pursuant to this Act, and 
licenses previously issued under this Act shall be made sub- 
ject to the provisions of that agreement. To the extent that 
ey are consistent with the provisions of the international 
regime, licenses previously issued shall continue in effect, and, 
to the extent possible under the international agreement, the 
United States shall exercise its rights and responsibilities 
under the agreement to insure their continuation under the 
international regime. 
INVESTMENT GUARANTY 
Sec. 13. To the extent that an international agreement, 
binding upon the United States, shall differ from the require-. 
ments of this Act, the United States shall provide the licensee 
with compensation in an effectively realizable form represent- 
ing the reduction in value of the investment resulting from 
the differing requirements: Provided, That the liability for 
compensation shall, until after an authorization for com- 
mercial recovery has been granted, be limited to compensa- 
tion in relation to equipment and facilities utilized for explo- 
ration purposes: Provided further, That ‘the Secretary of 
Commerce shall determine in the first instance the amount 
owing on the claims for compensation under this section: 
Provided further, That after an authorization for commercial 
