Nested If Statement

Need help with a nested If Statement:
=IF(AND(NOT(AND(OR([Country]="BR",[Country]="DE"),[Plancode]="Interim")),[AfterAdj Comm]+[After Adj Bonus]<0,[Term Date]=""),[After Adj Comm],0)

I do not understand how to decipher the logic in the nested AND|NOT|AND|OR ...
need help...
thanks!

Start from the inner-most function... that is how Excel processes nested functions.

OR(Logical1, Logical2,...)

The checks if any of the logical statements (conditions) are True or False. If ANY one condition is TRUE then OR() returns TRUE else FALSE is returned.

Next AND()

AND(Logical1, Logical2,....)

This checks if each logical statement is TRUE or FALSE. IF ALL statements are TRUE, then TRUE is returned else FALSE is returned

Next NOT(Logical)

This basically reverses the result of the Logical statement. So if Logical is TRUE, result is FALSE.

Next AND()

as above...