Sec.  25.159   Limits on pending applications and unbuilt satellite systems.

   (a) Applicants with a total of five applications for GSO-like space station
   licenses on file with the Commission in a particular frequency band, or a
   total of five licensed-but-unbuilt GSO-like space stations in a particular
   frequency  band, or a combination of pending GSO-like applications and
   licensed-but-unbuilt GSO-like space stations in a particular frequency band
   that equals five, will not be permitted to apply for another GSO-like space
   station license in that frequency band.

   (b)  Applicants with an application for one NGSO-like satellite system
   license on file with the Commission in a particular frequency band, or one
   licensed-but-unbuilt NGSO-like satellite system in a particular frequency
   band, will not be permitted to apply for another NGSO-like satellite system
   license in that frequency band.

   (c)  If an applicant has an attributable interest in one or more other
   entities  seeking  one  or  more  space  station licenses, the pending
   applications and licensed-but-unbuilt satellite systems filed by those other
   entities will be counted as filed by the applicant for purposes of the
   limits  on  the  number  of  pending  space  station  applications and
   licensed-but-unbuilt satellite systems in this paragraph. For purposes of
   this paragraph, an applicant has an “attributable interest” in another
   entity if:

   (1)  It  holds  equity (including all stockholdings, whether voting or
   nonvoting, common or preferred) and debt interest or interests, in the
   aggregate,  exceed  thirty-three (33) percent of the total asset value
   (defined as the aggregate of all equity plus all debt) of that entity, or

   (2) It holds a controlling interest in that entity, or is the subsidiary of
   a party holding a controlling interest in that entity, within the meaning of
   47 CFR 1.2110(b)(2).

   (3) For purposes of paragraphs (c)(1) and (c)(2) of this section, ownership
   interests  shall  be  calculated  on a fully diluted basis, i.e. , all
   agreements, such as warrants, stock options, and convertible debentures,
   will generally be treated as if the rights thereunder already have been
   fully exercised.

   (d) In the event that a licensee misses three or more milestones within any
   three-year period, the Commission will presume that the licensee obtained
   one or more of those licenses for speculative purposes. Unless the licensee
   rebuts this presumption, it will not be permitted to apply for a GSO-like
   satellite or an NGSO-like satellite system in any frequency band if it has
   two or more satellite applications pending, or two licensed-but-unbuilt
   satellite systems of any kind. This limit will remain in effect until the
   licensee provides adequate information to demonstrate that it is very likely
   to  construct  its licensed facilities if it were allowed to file more
   applications.

   (e) For purposes of this section, “frequency band” means one of the paired
   frequency bands available for satellite service listed in  Sec. 25.202.

   [ 68 FR 51506 , Aug. 27, 2003]

Forfeiture, Termination, and Reinstatement of Station Authorization