38.2  Share of Gain

38.2.1  The Authority shall be entitled to receive:

a.  a fifty percent (50%) share of any Refinancing Gain arising from a Qualifying Refinancing, in respect of any Refinancing Gain up to (when considered in aggregate with all previous Qualifying Refinancings) a Refinancing Gain of one million pounds (£1,000,000);

b.  a sixty per cent (60%) share of any further Refinancing Gain arising from a Qualifying Refinancing, in respect of any Refinancing Gain up to (when considered in aggregate with all previous Qualifying Refinancings) a Refinancing Gain of three million pounds (£3,000,000); and also

c.  a seventy per cent (70%) share of any other Refinancing Gain arising from a Qualifying Refinancing.