36.1 Not later than one month before each Distribution Date, Sub-hubco shall send to the Authority a calculation showing:
36.1.1 the Proposed Distribution;
36.1.2 the Investor Return on the assumption that the whole of the Proposed Distribution will be paid to the Investors on the Relevant Distribution Date;
36.1.3 where the Proposed Distribution would be a Qualifying Distribution, the First Threshold Excess and, if applicable, the Second Threshold Excess; and
36.1.4 the Authority's Distribution Share of the Proposed Distribution.
36.2 For the purposes of this Clause 36 (IRR Sharing and Cap), in calculating the amount of the Investor Return, the amount of any Distribution or Propsed Distribution or Projected Distribution that is attributable to Sub-hubco's share of all (if any) Refinancing Gains shall be excluded.
36.3 Nothing contained in this Agreement shall affect the right or ability of Sub-hubco to make Distributions that are not Qualifying Distributions.
36.4 If, taking into account:
36.4.1 all Distributions actually made prior to the Relevant Distribution Date;
36.4.2 the Proposed Distribution; and
36.4.3 all Projected Distributions,
the Proposed Distribution would, were it to be paid in full to the Investors on the Relevant Distribution Date, result in the Investor Return exceeding the First Whole Life Threshold Return (a "Qualifying Distribution"), the provisions of Clauses 36.6 and 36.7 shall apply.
36.5 In the event that Sub-hubco has available to it funds to make a Distribution that would:
36.5.1 be permitted by Law and the Funding Agreements;
36.5.2 be a Qualifying Distribution; and
36.5.3 if paid to the Investors in full on a particular date, result in the Investor Return exceeding the Second Whole Life Threshold Return,
the Authority may request that Sub-hubco makes a Qualifying Distribution and propose the date for so doing and Sub-hubco shall act reasonably in considering such request, having regard to the interests of the Authority and Sub-hubcorespectively.
36.6 In relation to any Qualifying Distribution, Sub-hubco must pay or allow the Authority's Distribution Share to the Authority in accordance with Clause 36.8.
36.7 This Clause 36 (IRR Sharing and Cap) shall continue to apply, notwithstanding termination or expiry of this Agreement, until the [dissolution or striking-off of Sub-hubco].
36.8 The Authority shall have the right to receive the Authority's Distribution Share of a Proposed Distribution to which it becomes entitled from time to time as:
36.8.1 a rebate of the Monthly Service Payments for the Contract Year most recently ended prior to the Relevant Distribution Date, paid as a single payment on the Relevant Distribution Date; or
36.8.2 a reduction in the Annual Service Payments from the Relevant Distribution Date over the remaining term of this Agreement; or
36.8.3 a combination of the above,
as the Authority elects by notice to Sub-hubco prior to the Relevant Distribution Date provided that the manner in which the Authority elects to receive the Authority's Distribution Share is is permitted by the Funding Agreements.