Divergent common hurdles allocate exit proceeds through valuation-tiered tranches, activating junior equity participation only after net cash clears specific benchmarks.
Six fields, each writing its own terms
The terms are written where they belong. Each field holds three desks, and every entry a desk writes raises the terms it uses, each term given a meaning, a mechanism and the places it appears. The record on these pages stays first person and hand made; the fields grow the nomenclature.
