Business Law
Distribution Waterfalls
by Jennifer L. Villier, JD | Business Law Faculty, WealthCounsel
When you think of waterfalls, perhaps Niagara or Victoria Falls comes to mind. Waterfalls in the legal sense might not be nearly as breathtaking or awe-inspiring as these natural wonders. However, when properly drafted, a distribution waterfall in an operating agreement is a pretty impressive provision.
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