As Lich enters the battlefield, you lose life equal to your life total.
You don't lose the game for having 0 or less life.
If you would gain life, draw that many cards instead.
Whenever you're dealt damage, sacrifice that many nontoken permanents. If you can't, you lose the game.
When Lich is put into a graveyard from the battlefield, you lose the game.
Slight Play Condition
Cards in Slightly Played condition show definite, minor wear. Examples of cards in this grade include cards with minor border wear, minor corner wear, very minor bending, slight scratching, clouding, or scuffing/loss of gloss on the front due to play. Cards signed by individual's including signatures by the cards artist, or cards with a professional event stamp, are classified as Slight Play if they would otherwise be Near Mint or Slightly Played. Foils in this condition will generally have some clouding or wear on the front of the card. Dave & Adam's recommends opaque sleeves for use of Slightly Played cards in organized play events.