Waterfall Model - various types of Tiers

Hi guys,

I hope you can help me out. I need to build a waterfall model in which the LPs will contribute all capital to the fund and will receive a return of their investment along with a preferred return before the GP receives any incentive compensation.

Following the tiers:

1) 0.0% to the Manager and 100.0% to the Limited Partners until Limited Partners have received a 9.0% internal rate of return on their invested capital, net of distributions received as of such period; 2) 15.0% to the Manager and 85.0% to the Limited Partners until the Limited Partners have received a 14.0% internal rate of return on their invested capital, net of distributions received as of such period; 3) 50.0% to the Manager and 50.0% to the Limited Partners until the Manager has received an amount equal to 15% of the fund level net profit through such period (as determined on a cash flow basis); 4) 15.0% to the Manager and 85.0% to the Limited Partners until the Limited Partners have received a 1.80X equity multiple on total Limited Partner invested capital to date; 5) 100.0% to the Manager and 0.0% to the Limited Partners until the Manager has received an amount equal to 20.0% of the fund level net profit through such period (as determined on a cash flow basis), and thereafter; 6) 20.0% to the general partner and 80.0% to the capital contributing partners

1) seems pretty straight forward whereas I am already struggling with 2).

Any help much appreciated.