Common use of Condominium Declaration Clause in Contracts

Condominium Declaration. (a) Notwithstanding anything to the contrary contained in the form of Condominium Declaration attached as Exhibit E to the Operating Agreement, the right of first offer to lease in favor of NYTC under Section 5(d) of Article XX thereof, shall not become effective as to any of the First Offer Space (as defined in the form of Condominium Declaration attached as Exhibit E to the Operating Agreement) until the earlier of (i) the first anniversary of the Completion Date and (ii) the date on which such portion of the First Offer Space becomes available for leasing after the expiration of the term of the initial lease of such portion of the First Offer Space. (b) The Members further agree that the form of Condominium Declaration and By-laws attached as Exhibit E to the Operating Agreement shall be revised to incorporate the changes thereto which are indicated on Exhibit C attached hereto.