5 The Authority shall have the right to elect to receive its share of any Refinancing Gain (including any Margin Gain) as:
5.1 a single payment being the proportion (corresponding to the proportion of the Refinancing Gain to which the Authority is entitled pursuant to paragraph 2 above) of the amount which, but for the provisions of this Schedule Part 23, would otherwise be capable of being released as a Distribution and/or a Surplus Payment on or about the date of the Refinancing;
5.2 a reduction in the Annual Service Payments over the remaining term of this Agreement; or
5.3 a combination of the above.