http://www.feld.com/wp/archives/2005/04/term-sheet-conditions-precedent-to-financing.html Sun, 14 Mar 2010 22:09:39 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.feld.com/wp/archives/2005/04/term-sheet-conditions-precedent-to-financing.html/comment-page-1#comment-804 lbenz Thu, 14 Apr 2005 01:53:40 +0000 http://www.feld.com/wp/?p=343#comment-804 Great insight and expertise par usual from Brad. I have found from an acquisition standpoint (as opposed to VC or newco financing) that the term sheet process is the most important step. I spend an enourmous time detailing and addressing all salient issues (particularly all the emotional aspects) in the term sheet because we use it as the basis of the longer, more detailed purchase agreement. Otherwise, we are often re-negotiating during the "sensitive" drafting of the purchase agreement when the seller thinks it is a done deal. The schedules and requisite due dilligence are enough to take somebody over the top during this stage and the more items that are addressed in the term sheet the better from my experience. Great insight and expertise par usual from Brad. I have found from an acquisition standpoint (as opposed to VC or newco financing) that the term sheet process is the most important step. I spend an enourmous time detailing and addressing all salient issues (particularly all the emotional aspects) in the term sheet because we use it as the basis of the longer, more detailed purchase agreement. Otherwise, we are often re-negotiating during the “sensitive” drafting of the purchase agreement when the seller thinks it is a done deal. The schedules and requisite due dilligence are enough to take somebody over the top during this stage and the more items that are addressed in the term sheet the better from my experience.

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