Explain this line of code to me

[fw236]

Can someone explain this line of code to me? It's too embedded to make sense.

=IF(ISTEXT(VLOOKUP(LEFT($E4,5),SLTOwner!A:B,2,FALSE)),VLOOKUP(LEFT($E4,5),SLTOwner!A:B,2,FALSE),IF(ISTEXT(VLOOKUP(LEFT($E4,4),SLTOwner!A:B,2,FALSE)),VLOOKUP(LEFT($E4,4),SLTOwner!A:B,2,FALSE),"TBD"))

Thank you.

 

[Special-K99]

This formula looks at the first 5 characters of cell E4, if the value is text it searches for and returns that value in column B of Sheet SLTOwner. If it cannot find that value it looks at the first 4 characters of cell E4, if the result is text it searches for and returns that value in column B of Sheet SLTOwner. If it cannot find that value it returns the value "TBD".

 

[fw236]

Could you kindly explain what do you mean by "if the value is text it searches for"

 

[fw236]

Is it possible to convert this line of code into a VBA function that takes in the parameter 5dot as the first 5 characters of E3 and 4 dots as the first 4 characters of E4 respectively? Thanks.