Jurisdiction(s):
United Kingdom

Key definition

Term sheet definition

What does Term sheet mean? A term sheet sets out the principal commercial terms agreed in principle for a proposed transaction (for example, an equity investment, M&A deal, financing or joint venture) to guide due diligence and the drafting of definitive agreements. It is a descriptive expression, not defined in legislation, and is used interchangeably with heads of terms/heads of agreement, letter of intent (LOI) and memorandum of understanding (MOU). Term sheets typically outline price/valuation, structure, key conditions precedent, governance/controls, warranties framework, timetable and any consents. As a matter of general contract principles across England and Wales, Scotland, Northern Ireland and Ireland, they...

Indicative bilateral term loan term sheet for single limited company borrower, with optional security and/or guarantee (England and Wales law)

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Precedents

Term sheet for a bilateral facility for a Borrower incorporated as a limited liability Company in England and Wales with or without security/a guarantee

In relation to a proposed £[ • ] term Loan facility to be made available to [ insert name of borrower ] by [ insert name of lender ] (the Parties). Date [ • ] 20[ • ]

This term sheet is for indicative purposes only and serves as a guide to the provisions expected to appear in the final documentation. It does not constitute an offer to provide the facility. Availability of the facility remains subject to satisfactory due diligence, approval by the credit committee, and acceptable final documentation. The terms set out in this letter are not comprehensive and, [ save for [] ], are subject to contract and are not intended to create legally binding obligations on the Parties...

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Web page updated on 22/05/2026

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