Term Sheet Summary and Negotiation Playbook (Debt)

Summarize and interpret the key commercial and covenant terms of a debt term sheet for {{lender_name}} offering {{loan_amount}} to finance {{target_company}}. Produce: 1) a one-page plain-English summary of pricing, amortization, collateral, covenants (financial and negative pledge), and customary fees, 2) impact analysis on the LBO model (cash flows, covenant tests), 3) negotiation priorities and suggested counterproposals for 6 key items, and 4) an implementation checklist if terms are accepted (closing conditions, legal docs needed).