There was revenue targets attached to it. If they pay if off faster, the 50/50 revenue split kicks in again and they will have to evaluate how they adjust it (Escrow will have to be adjusted). I believe they are ahead of schedule after last season. $5.2B of revenue is more than their $4.8B projection they picked when the CBA and payment schedule was introduced. And Covid even derailed parts of this season so next season is likely around $5.5B or more. In 19/20 there was a report on revenue and salary cap (before covid) and I believe that revenue was $5B and with a $84M - $88M salary cap.
After next season, they are probably close to being paid off. Kind of like a mortgage but if you top up your payments, your end date of paying off your mortgage ends sooner.
This is a snap shot of their MOU... $4.8B was the threshold and they are above it now with $5.2B this past year. So if it goes higher next year and the balance is paid off. The $1M salary cap increase year to year no longer applies. It's written below that they agreed to discuss in good faith on the upper limit and there is also a smooth out factor so the system is not shocked. I can see a $85M salary cap after next season if revenue is $5.5B or more. Then around $90M for the 24/25 season. That's much better than $83.5M for 23/24 and then $90M for 24/25. A $7M bump will shock the system