The Rupee Term Loan Agreement is executed between the private partner, the senior lenders, the lenders' agent and security trustee. This agreement generally provides for the commercial terms on which a loan has been approved for the project. The pre-commitment conditions and pre-disbursement conditions for release of funds specified in this agreement should have been fulfilled to achieve financial closure.
It is to be noted that multiple lenders may have one or separate rupee term loan agreements with the concessionaire and security trustee.