A micro licensee in good standing may apply to the Administration to convert to a standard license once it has been operational for at least 24 months, in a manner determined by the Administration. The Administration may deny the micro licensee for conversion to a standard license if the micro licensee: Has been operational for 24 or fewer months; Has been found to violate any operational restrictions in Regulation .02B of this chapter; Would be in violation of the ownership or control restrictions in COMAR 14.17.16; Does not provide adequate notice to the Administration; or For any other good cause determined by the Administration. A micro license converted under §§A and B of this regulation to a standard license shall be valid through the date of the initial micro license. Prior to the conversion of micro license to a standard license the licensee shall pay in full a pro-rated license fee. The pro-rated license fee required under §D of this regulation shall be calculated by the Administration by: Subtracting any previous license fee paid for the valid micro license that is being converted into the standard license from the standard fee under COMAR 14.17.21; and Pro-rating the remaining license fee total by months remaining on the initial 5-year term of the micro license. A micro license converted under this regulation: Shall be forfeited by the licensee as a condition of conversion and the Administration may award the forfeited license in a subsequent licensing round; Shall only be for the corresponding standard license type; and May not be converted to an incubator space license under COMAR 14.17.06.09 or on-site consumption license under COMAR 14.17.06.10. The Administration shall reserve enough standard licenses, by license type, to allow a reasonable number of micro licenses to convert to a standard license.