Reviewing the term sheet when acting for the borrower

In the majority of instances, unless the transaction is of a more complex nature (such as a project or acquisition financing), it is quite likely that the term sheet will be settled and attached to a signed engagement or mandate letter between the lender and the borrower before it is provided to the borrower’s lawyer.

However, in some circumstances practitioners are given an opportunity to review a term sheet on behalf of the borrower before it is settled with the lender. This guidance note addresses some of the key issues for consideration, including:

• • purpose of the term sheet and some general observations;
• • general issues to consider when reviewing a term sheet; and
• • acquisition finance and project finance term sheets.

See Reviewing the term sheet when acting for the borrower.