5.1.  Receipt of Gain

The Authority shall have the right to elect to receive its share of any Refinancing Gain as either:

5.1.1.  a single payment in an amount less than or equal to any Distribution73 made on or about the date of the Refinancing;

5.1.2.  a reduction in the Unitary Charge over the remainder of the Contract Period; or

5.1.3.  a combination of any of the above.

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73  Any Distributions projected to be made after the Refinancing will be net of any payment to be made to the Authority on or about the date of the Refinancing. If a Distribution is made on or about the date of the Refinancing which would have been made if the Refinancing had not occurred, the amount of that Distribution will not be taken into account for the purposes of paragraph 5.1.1 of Schedule 16