Sec. 90.807  Submission of upfront payments and down payments.

    (a) Each bidder in the 900 MHz SMR auction will be required to 
submit an upfront payment of $0.02 per MHz per pop, for the maximum 
number of licenses (in terms of MHz-pops) on which it intends to bid 
pursuant to Sec. 1.2106 of this chapter and procedures specified by 
Public Notice.
    (b) Each winning bidder in the 900 MHz SMR auction shall make a down 
payment to the Commission in an amount sufficient to bring its total 
deposits up to 20 percent of its winning bid within five business days 
after the auction closes, and the remaining balance due on the license 
shall be paid within five business days after Public Notice announcing 
that the Commission is prepared to award the license. The grant of the 
application required by Sec. 90.808 is conditional upon receipt of full 
payment, except for small businesses that are winning bidders, which are 
governed by Sec. 90.811. The Commission generally will grant the license 
within ten (10) business days after the receipt of the remaining balance 
due on the license.