§ 24.716   Installment payments for licenses for frequency Block F.

   Installment Payments. Each eligible licensee of frequency Block F may pay
   the  remaining  80 percent of the net auction price for the license in
   installment payments pursuant to § 1.2110(g) of this chapter and under the
   following terms:

   (a) For an eligible licensee with gross revenues exceeding $75 million
   (calculated  in  accordance  with § 1.2110(b) of this chapter and, when
   applicable, § 24.709(b)) in each of the two preceding years (calculated in
   accordance with § 1.2110(n) of this chapter), interest shall be imposed based
   on the rate for ten-year U.S. Treasury obligations applicable on the date
   the  license is granted, plus 3.5 percent; payments shall include both
   principal and interest amortized over the term of the license;

   (b) For an eligible licensee with gross revenues not exceeding $75 million
   (calculated  in  accordance  with § 1.2110(b) of this chapter and, when
   applicable, § 24.709(b)) in each of the two preceding years (calculated in
   accordance with § 1.2110(n) of this chapter), interest shall be imposed based
   on the rate for ten-year U.S. Treasury obligations applicable on the date
   the license is granted, plus 2.5 percent; payments shall include interest
   only for the first year and payments of interest and principal amortized
   over the remaining nine years of the license term; or

   (c) For an eligible licensee that qualifies as a small business or as a
   consortium of small businesses, interest shall be imposed based on the rate
   for ten-year U.S. Treasury obligations applicable on the date the license is
   granted; payments shall include interest only for the first two years and
   payments of interest and principal amortized over the remaining eight years
   of the license term.

   [ 67 FR 45371 , July 9, 2002, as amended at  68 FR 42999 , July 21, 2003]

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