§  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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