Sec.  24.716   Installment payments for licenses for frequency Block F.

   Installment Payments. Each eligible licensee of frequency Block F may pay
   the remaining 80 percent of the net auction price for the license in
   installment payments pursuant to  Sec. 1.2110(g) of this chapter and under the
   following terms:

   (a) For an eligible licensee with gross revenues exceeding $75 million
   (calculated in accordance with  Sec. 1.2110(b) of this chapter and, when
   applicable,  Sec. 24.709(b)) in each of the two preceding years (calculated in
   accordance with  Sec. 1.2110(n) of this chapter), interest shall be imposed based
   on the rate for ten-year U.S. Treasury obligations applicable on the date
   the license is granted, plus 3.5 percent; payments shall include both
   principal and interest amortized over the term of the license;

   (b) For an eligible licensee with gross revenues not exceeding $75 million
   (calculated in accordance with  Sec. 1.2110(b) of this chapter and, when
   applicable,  Sec. 24.709(b)) in each of the two preceding years (calculated in
   accordance with  Sec. 1.2110(n) of this chapter), interest shall be imposed based
   on the rate for ten-year U.S. Treasury obligations applicable on the date
   the license is granted, plus 2.5 percent; payments shall include interest
   only for the first year and payments of interest and principal amortized
   over the remaining nine years of the license term; or

   (c) For an eligible licensee that qualifies as a small business or as a
   consortium of small businesses, interest shall be imposed based on the rate
   for ten-year U.S. Treasury obligations applicable on the date the license is
   granted; payments shall include interest only for the first two years and
   payments of interest and principal amortized over the remaining eight years
   of the license term.

   [ 67 FR 45371 , July 9, 2002, as amended at  68 FR 42999 , July 21, 2003]