§ 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]

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