Term Sheet Template - National Venture Capital Association
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25[In response to the publication by the National Venture Capital Association of
sample forms for use in venture capital financings, members of the
Subcommittee on Transactional Issues and Documents of the Committee on
Venture Capital and Private Equity of the Business Section of the American
Bar Association met during 2006 and 2007 to discuss their views of these
forms.
The following has been marked to reflect the comments of these
members to the form of Term Sheet prepared by the NVCA. Comments are
shown as inserted or deleted text, both within the body of the form and in the
footnotes. The Subcommittee welcomes further input on its comments.
As with the NVCA forms themselves, these comments represent only the
personal views of a number of attorneys who practice in this area, but do not
necessarily indicate the views of their firms nor of the ABA itself.
The
comments should also not be taken as legal advice for any particular facts or
circumstances. ]
This sample document is the work product of a coalition of attorneys who specialize in
venture capital financings, working under the auspices of the NVCA. See the NVCA website
for a list of the Working Group members. This document is intended to serve as a starting
point only, and should be tailored to meet your specific requirements. This document should
not be construed as legal advice for any particular facts or circumstances. Note that this
sample presents an array of (often mutually exclusive) options with respect to particular deal
provisions.
TERM SHEET
[Subcommittee on Transactional Issues and Documents
Committee on Venture Capital and Private Equity
Business Section
American Bar Association
August 2007]
ABA Comments to NVCA Term Sheet - Final Version.DOC
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