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]