Sec. 24.833  Post-auction divestitures.

    Any parties sharing a common non-controlling ownership interest who 
aggregate more PCS spectrum among them than a single entity is entitled 
to hold (See Secs. 20.6(e), 24.710, 24.204, 24.229(c) of this chapter) 
will be permitted to divest sufficient properties within 90 days of the 
license grant to come into compliance with the spectrum aggregation 
limits as follows:
    (a) The broadband PCS applicant shall submit a signed statement with 
its long-form application stating that sufficient properties will be 
divested within 90 days of the license grant. If the licensee is 
otherwise qualified, the Commission will grant the applications

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subject to a condition that the licensee come into compliance with the 
PCS spectrum aggregation limits within 90 days of grant.
    (b) Within 90 days of license grant, the licensee must certify that 
the applicant and all parties to the application have come into 
compliance with the PCS spectrum aggregation limits. If the licensee 
fails to submit the certification within 90 days, the Commission will 
immediately cancel all broadband PCS licenses won by the applicant, 
impose the default penalty and, based on the facts presented, take any 
other action it may deem appropriate. Divestiture may be to an interim 
trustee if a buyer has not been secured in the required time frame, as 
long as the applicant has no interest in or control of the trustee, and 
the trustee may dispose of the property as it sees fit. In no event may 
the trustee retain the property for longer than six months from grant of 
license.
[ 59 FR 53371 , Oct. 24, 1994]

Secs. 24.834--24.838  [Reserved]