waterfall
A1CEFR level
15/100Rarity: common
TechnicalRegister
Law noun
The prescribed order of priority in which realised funds are applied to different classes of claimant in an insolvency.
Under the statutory waterfall, fixed-charge holders were paid before the preferential and unsecured creditors.
Business noun
The ordered sequence in which cash flows are distributed to tranches or partners.
Once the senior tranche was made whole, the waterfall let residual cash cascade to the equity.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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