Thank you for your reply...
It is not working...
if I use {sourcepath} without 'noterm' then it gets an extra " at the end of the path and Sublime is not working.
If I put 'noterm' is not working for selected files or dirs on lister!
If that still doesn't work, sublime_text.exe may not like having a \ at the end of the path, or before a " character. (The latter is quite common as it's a bug in how the standard command-line parsing from the Microsoft C runtime works.) If that's the case, and you want it to work with both files selected and nothing selected, then you might need to using scripting so that you can generate different command lines in both situations.
You may also find that this works:
cd {sourcepath}
@async:"C:\Program Files\Sublime\sublime_text.exe" {file}