Stratus cloud a region. Some call these clouds "high fog" for the fog-like cloud. While light rain may fall, this cloud does not indicate much meteorological activity. Stratus clouds form when a sheet of warm, moist air lifts off the ground and depressurizes, following the lapse rate. This causes the relative humidity to increase due to the adiabatic cooling. Stratus clouds look like featureless gray to white sheets of cloud. They can be composed of water droplets, supercooled water droplets, or ice crystals depending upon the ambient temperature. Stratus nebulosus clouds appear as a featureless or nebulous veil or layer of stratus
Term sheet documents meant to record two or more parties' intentions to enter into a future agreement based on specified (but incomplete or preliminary) terms. The difference between the two is slight and mostly a matter of style: an LOI is typically written in letter form and focuses on the parties' intentions; a term sheet skips most of the formalities and lists deal terms in bullet-point or similar format. There is an implication that an LOI only refers to the final form. A term sheet may be a proposal, not an agreed-to document. Within the context of venture capital financing, a term