§  1.9040   Contractual requirements applicable to spectrum leasing
arrangements.

   (a) Agreements between licensees and spectrum lessees concerning
   spectrum leasing arrangements entered into pursuant to the rules of
   this subpart must contain the following provisions:

   (1) The spectrum lessee must comply at all times with applicable rules
   set forth in this chapter and other applicable law, and the spectrum
   leasing arrangement may be revoked, cancelled, or terminated by the
   licensee or Commission if the spectrum lessee fails to comply with the
   applicable requirements;

   (2) If the license is revoked, cancelled, terminated, or otherwise
   ceases to be in effect, the spectrum lessee has no continuing authority
   or right to use the leased spectrum unless otherwise authorized by the
   Commission;

   (3) The spectrum leasing arrangement is not an assignment, sale, or
   transfer of the license itself;

   (4) The spectrum leasing arrangement shall not be assigned to any
   entity that is ineligible or unqualified to enter into a spectrum
   leasing arrangement under the applicable rules as set forth in this
   subpart;

   (5) The licensee shall not consent to an assignment of a spectrum
   leasing arrangement unless such assignment complies with applicable
   Commission rules and regulations.

   (b) Agreements between licensees that hold licenses subject to the
   Commission's installment payment program ( see §  1.2110 of subpart Q
   of this part and related service-specific rules) and spectrum lesseeys
   must contain the following additional provisions:

   (1) The express acknowledgement that the license remains subject to the
   Commission's priority lien and security interest in the license and
   related proceeds, consistent with the provisions set forth in
   §  1.9045; and

   (2) The agreement that the spectrum lessee shall not hold itself out to
   the public as the holder of the license and shall not hold itself out
   as a licensee by virtue of its having entered into a spectrum leasing
   arrangement.

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