Key Terms

Glossary of Key Terms

To ensure clarity for all investor profiles, below is a reference list of key terms used throughout this document:

Preferred Return: A baseline annual return (set at 6%) that must be achieved before any performance fees or GP carry are applied. Also known as a “hurdle rate.”

General Partner (GP): The management entity responsible for sourcing deals, managing assets, and distributing returns. OASES acts as the GP for each SPV.

Limited Partner (LP): An investor in the SPV who holds security tokens representing ownership and is entitled to receive returns and exercise voting rights.

Waterfall Structure: A tiered performance fee schedule that allocates increasing percentages of excess returns to the GP as LP returns improve beyond the preferred threshold.

Carry / Carried Interest: The share of profits the GP receives above a preferred return, typically triggered upon a capital event (sale, recapitalization).

Catch-up Mechanism: A clause that allows the GP to "catch up" on a portion of returns until the agreed carry level is met. Applied selectively per SPV structure.

Exit Window: Predefined milestones in the SPV lifecycle (e.g. Year 5, 10, 15) where investors review or vote on potential asset exit decisions.

Token Transfer: The peer-to-peer sale of security tokens, transferring all LP rights, including future distributions, voting power, and carry eligibility.