Marathon Digital Holdings Inc (MARA)

[Rule_62]

That's just breaking down the amount (percentage) of revenue stream that must go into paying down the notes, based on the amount of revenue received, above the threshold amount.

The threshold amount is the $15M annual revenue stream.

What they're outlining aren't payments above and beyond what's owed, it's a payment schedule that based on revenue stream.

So

All Monetization Revenues received by the Issuer and any Subsidiary or deposited in the Cash Collateral Account shall be applied so that, subject to the Company’s retention of the Threshold Amount, 30% of Monetization Net Revenues are applied to the Note Obligations until paid in full

Translation: 30% of the revenue stream that exceeds the threshold amount of $15M (or $1.25M/month) must go into paying down the note obligations.

It then goes on the spell out additional modifiers to that 30%. Basically, they reduce the 30% until other debts (primarily the Medtronics obligation) are paid off. Or at least, that's how I interpret it, without spending a whole lot of time on it.