Kheru Lich Lord — ruling 1

You decide whether to pay {2}{B} as the ability resolves.

Kheru Lich Lord — ruling 2

The creature card returned to the battlefield is chosen at random as the ability resolves. If any player responds to the ability, that player won’t yet know what card will be returned.

Kheru Lich Lord — ruling 3

Because the ability doesn’t target any creature card, any creature card (including Kheru Lich Lord itself) put into the graveyard in response to that ability may be returned to the battlefield.

Kheru Lich Lord — ruling 4

The ability that exiles the card at the beginning of your next end step is a delayed triggered ability. If the delayed triggered ability is countered, the creature will stay on the battlefield and the ability won’t trigger again. However, the replacement effect will still exile the creature when it eventually leaves the battlefield.

Kheru Lich Lord — ruling 5

Kheru Lich Lord grants flying, trample, and haste to the creature that’s returned to the battlefield. However, neither of the “exile” abilities is granted to that creature. If that creature loses all its abilities, it will still be exiled at the beginning of your next end step, and if it would leave the battlefield, it is still exiled instead.

Kheru Lich Lord — ruling 6

If a creature card returned to the battlefield with Kheru Lich Lord would leave the battlefield for any reason, it’s exiled instead. However, if that creature is already being exiled, then the replacement effect won’t apply. If the spell or ability that exiles it later returns it to the battlefield (as Suspension Field might, for example), the creature card will return to the battlefield as a new object with no relation to its previous existence. The effects from Kheru Lich Lord will no longer apply to it.

Kheru Lich Lord — ruling 7

The exiled creature is never put into the graveyard. Any abilities the creature has that trigger when it dies won’t trigger.

Kheru Lich Lord : règles, fonctionnement et interactions (MTG)

Kheru Lich Lord is one of those cards players keep asking about. Here is, in plain words, what its official text says, the rulings published by Wizards of the Coast, and the combos players actually run.

Official card text

At the beginning of your upkeep, you may pay . If you do, return a creature card at random from your graveyard to the battlefield. It gains flying, trample, and haste. Exile that card at the beginning of your next end step. If it would leave the battlefield, exile it instead of putting it anywhere else.

How it works : Kheru Lich Lord

Original English text — Wizards of the Coast / Scryfall

#1September 20, 2014· Wizards of the Coast
You decide whether to pay as the ability resolves.
No other card is named in this ruling.
#2September 20, 2014· Wizards of the Coast
The creature card returned to the battlefield is chosen at random as the ability resolves. If any player responds to the ability, that player won’t yet know what card will be returned.
No other card is named in this ruling.
#3September 20, 2014· Wizards of the Coast
Because the ability doesn’t target any creature card, any creature card (including Kheru Lich Lord itself) put into the graveyard in response to that ability may be returned to the battlefield.
No other card is named in this ruling.
#4September 20, 2014· Wizards of the Coast
The ability that exiles the card at the beginning of your next end step is a delayed triggered ability. If the delayed triggered ability is countered, the creature will stay on the battlefield and the ability won’t trigger again. However, the replacement effect will still exile the creature when it eventually leaves the battlefield.
No other card is named in this ruling.
#5September 20, 2014· Wizards of the Coast
Kheru Lich Lord grants flying, trample, and haste to the creature that’s returned to the battlefield. However, neither of the “exile” abilities is granted to that creature. If that creature loses all its abilities, it will still be exiled at the beginning of your next end step, and if it would leave the battlefield, it is still exiled instead.
No other card is named in this ruling.
#6September 20, 2014· Wizards of the Coast
If a creature card returned to the battlefield with Kheru Lich Lord would leave the battlefield for any reason, it’s exiled instead. However, if that creature is already being exiled, then the replacement effect won’t apply. If the spell or ability that exiles it later returns it to the battlefield (as Suspension Field might, for example), the creature card will return to the battlefield as a new object with no relation to its previous existence. The effects from Kheru Lich Lord will no longer apply to it.
No other card is named in this ruling.
#7September 20, 2014· Wizards of the Coast
The exiled creature is never put into the graveyard. Any abilities the creature has that trigger when it dies won’t trigger.
No other card is named in this ruling.