waterfall
n. /ˈwɔːtərˌfɔːl/ B1
瀑布
A place where a river falls over a high cliff.
仙境例句
From nine feet high, Alice's tears came down like a little waterfall.
爱丽丝的眼泪从九英尺高的地方落下来，像一道小瀑布。
巴菲特芒格原话
And then that instrument may be traunched into 30 or so different traunches where each party has a different claim on the waterfall of funds received.然后，该工具可能会被切分成大约30个不同的层级，各方对于按瀑布式流下的回款现金流享有不同的索偿优先权。（瀑布式分配指现金流依优先级依次清偿的机制。）
Warren Buffett · 2008