§  1.9045   Requirements for spectrum leasing arrangements entered into by
licensees participating in the installment payment program.

   (a) If a licensee that holds a license subject to the Commission's
   installment payment program (see § 1.2110 of subpart Q of this part and
   related service-specific rules) enters into a spectrum leasing
   arrangement pursuant to the rules in this subpart, the licensee remains
   fully and solely responsible for the outstanding debt amount owed to
   the Commission. Nothing in a spectrum leasing arrangement, or arising
   from a spectrum lessee's bankruptcy or receivership, can modify the
   licensee's sole responsibility for its obligation to repay its entire
   debt obligation under the installment payment program pursuant to
   applicable Commission rules and regulations and the associated note(s)
   and security agreement(s).

   (b) If a licensee holds a license subject to the installment payment
   program rules (see § 1.2110 and related service-specific rules), the
   licensee and any spectrum lessee must execute the Commission-approved
   financing documents. No licensee or potential spectrum lessee may file
   a spectrum leasing notification or application without having first
   executed such Commission-approved financing documentation. In addition,
   they must certify in the spectrum leasing notification or application
   that they have both executed such documentation.

   [ 68 FR 66277 , Nov. 25, 2003, as amended at  69 FR 77558 , Dec. 27, 2004]