Real estate ventures structured with sponsor promotes have extensive provisions on the sharing of cash flow. Which of the following statements is most appropriate in this regard?

A. investor and sponsor cash flow rights are fairly standard

B. investor and sponsor cash flow rights are determined by state law

C. inestor and sponsor cash flow rights can vary dramatically from deal to deal and must be reviewed to be understood by the parties

D. Investor and sponsor cash flow rights are pari-passu