Pilot Square Foot Factor definition
Pilot Square Foot Factor the annual per rentable square foot factor used in computing the Pilot under the City Agreement for the relevant Tax Year. If payments under the City Agreement become payable on a basis other than an annual amount per Occupied Rentable Square Foot (as defined in Section 5.1.8 of the Underlying Lease), then unless such payments are separately assessed and levied or allocated to the Real Property, the Port Authority will allocate such payments equitably on the basis of square footage and Landlord will notify Tenant of such allocation, in which event the “Pilot Square Foot Factor” shall equal the payments so allocated to the New Tower Building divided by the Building Area.