AWK split for multiple delimiters lines
awk -vRS=REC_DELIMITER '/^.TOP\n/{print RS $0 > sprintf("original_file.split.%03d",n)};!++n' original_file
(Give or take an extra newline at the end.)
Generally, when input is supposed to be treated as a series of multi-line records with a special line as delimiter, the most direct approach is to set RS (and often ORS) to that delimiter.
Normally you'd want to add newlines to its beginning and/or end, but this case is a little special so it's easier without them.
Edited to add: You need GNU Awk for this. Standard Awk considers only the first character of RS.