§  24.249   Payment issues.

   (a) Timing. On the day that a PCS entity files its prior coordination
   notice (PCN) in accordance with § 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 § 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]