Post-Selection Process for Selected Developer Sample Clauses

Post-Selection Process for Selected Developer. A. Option Fee: A Developer designated by the WMATA Board of Directors as a Selected Developer will be required to pay WMATA, in immediately available funds, an option fee for WMATA’s granting to the Selected Developer the exclusive right to negotiate a Development Agreement. The amount and timing of the nonrefundable option fee shall be as set forth in Section 1.6 of this Part Three. This option fee is in addition to the Proposal Security.