Sec. 25.404  Submission of down payment and filing of long-form 
          applications.

    (a) After bidding has ended, the Commission will identify and notify 
the high bidder and declare the bidding closed.
    (b) Within ten (10) business days of a Public Notice announcing the 
high bidder on a particular license(s), a high bidder must submit to the 
Commission's lockbox bank such additional funds (the ``down payment'') 
as are necessary to bring its total deposits (not including upfront 
payments applied to satisfy bid withdrawal or default payments) up to 
twenty (20) percent of its high bid(s). This down payment must be made 
by wire transfer or cashier's check drawn in U.S. dollars from a 
financial institution whose deposits are insured by the Federal Deposit 
Insurance Corporation and must be made payable to the Federal 
Communications Commission. Down payments will be held by the Commission 
until the high bidder has been awarded the license and has paid the 
remaining balance due on the license, in which case it will not be 
returned, or until the winning bidder is found unqualified to be a 
licensee or has defaulted, in which case it will be returned, less 
applicable payments. No interest on any down payment will be paid to a 
bidder.
    (c) A high bidder that meets its down payment obligations in a 
timely manner must, within thirty (30) business days after being 
notified that it is a high bidder, submit an amendment to its pending 
application to provide the information required by Sec. 25.144.