REPE Waterfall Breakdown Home › Forums › Case Study Help › REPE Waterfall Breakdown This topic has 2 replies, 1 voice, and was last updated 1 year, 11 months ago by roryhcompton. Viewing 3 posts - 1 through 3 (of 3 total) Author Posts July 15, 2020 at 12:41 am #23670 roryhcomptonParticipant In the breakdown of the waterfall under pari passu, why are we deducting the LCF, but adding in the coupon? Shouldn’t we be deducting the coupon for that tier out of the LCF and carrying the remainder to the next promote? July 15, 2020 at 12:51 am #23671 roryhcomptonParticipant Also it appears the CF at pari passu under gross LCF to distribute is the same as that in tier III. July 15, 2020 at 3:21 am #23672 roryhcomptonParticipant Disregard this post. I am still lost, but I believe I am seeing the logic. Author Posts Viewing 3 posts - 1 through 3 (of 3 total) The forum ‘Case Study Help’ is closed to new topics and replies.