Cash waterfall is a term used to describe the way cash flows through a business or investment. It refers to the way cash is distributed to different stakeholders, like shareholders or debt holders, in a predetermined order. While the term cash waterfall is widely used in finance, there are several synonyms for it, such as cash distribution, cash flow hierarchy, payment waterfall, or payout structure. These terms all refer to the way cash is divided and distributed according to a predetermined schedule or formula. Other related terms include capital structure, cash sweep, and priority waterfall. Understanding the cash waterfall can help investors and business owners make better decisions about how to manage their cash flow.