Sec. 22.967  License grant, denial, default, and disqualification.

    (a) Each winning bidder will be required to pay the balance of its 
winning bid in a lump sum payment within five (5) business days 
following Public Notice that the Commission is prepared to award the 
license. The Commission will grant the license generally within ten (10) 
business days after receipt of full and timely payment of the winning 
bid amount.
    (b) A bidder who withdraws its bid subsequent to the close of 
bidding, defaults on a payment due, or is disqualified, will be subject 
to the payments specified in Sec. 22.963 or Secs. 1.2104(g) and 1.2109 
of this chapter, as applicable.
[ 61 FR 58340 , Nov. 14, 1996]

               Subpart I--Offshore Radiotelephone Service