Sec.  24.249   Payment issues.

   (a) Timing . On the day that a PCS entity files its prior coordination
   notice (PCN) in accordance with  Sec. 101.103(d) of this chapter, it must file a
   copy of the PCN with the clearinghouse. The clearinghouse will determine if
   any reimbursement obligation exists and notify the PCS entity in writing of
   its repayment obligation, if any. When the PCS entity receives a written
   copy of such obligation, it must pay directly to the PCS relocator or the
   voluntarily relocating microwave incumbent the amount owed within thirty
   days, with the exception of those businesses that qualify for installment
   payments. A business that qualifies for an installment payment plan must
   make its first installment payment within thirty days of notice from the
   clearinghouse.  UTAM's first payment will be due thirty days after its
   reimbursement obligation is triggered, as described in  Sec. 24.247(b).

   (b) Eligibility for Installment Payments. PCS licensees that are allowed to
   pay for their licenses in installments under our designated entity rules
   will  have identical payment options available to them with respect to
   payments under the cost-sharing plan. The specific terms of the installment
   payment mechanism, including the treatment of principal and interest, are
   the same as those applicable to the licensee's installment auction payments.
   If, for any reason, the entity eligible for installment payments is no
   longer eligible for such installment payments on its license, that entity is
   no longer eligible for installment payments under the cost-sharing plan.
   UTAM may make quarterly payments over a five-year period with an interest
   rate of prime plus 2.5 percent. UTAM may also negotiate separate repayment
   arrangements with other parties.

   [ 61 FR 29693 , June 12, 1996, as amended at  62 FR 12757 , Mar. 18, 1997]