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TIFIA Loan Term Sheet and Agreement

The template TIFIA Loan Indicative Term Sheet and Loan Agreement reflect current USDOT's credit policies. The term sheet sets forth certain basic terms and conditions of TIFIA credit assistance; however, the execution of a credit agreement and subsequent disbursement of funds to a project are subject to satisfactory completion of the USDOT's creditworthiness evaluation and the agreement of terms and conditions acceptable to the USDOT. The credit agreement is the definitive agreement between the USDOT and the borrower (and the guaranteed lender, if applicable), containing all terms and conditions pursuant to which the disbursement of TIFIA credit assistance is provided.

The TIFIA Loan Agreement Sample Template for Public Entity Projects ‒ Project Revenue Version ‒ is an updated version of the 2014 TIFIA Loan Agreement Sample Template. This version is tailored for public entity borrowers and eliminates items that are more relevant for public-private partnership (P3) projects.  In addition, this version contains updates with respect to current credit policies and generally applicable regulatory requirements that are more reflective of the current legal requirements based on recent TIFIA precedents.

The TIFIA Loan Agreement Sample Template for Public Entity Projects ‒ Non-Project Revenue Version ‒ is a new template tailored for projects developed by public entities, where TIFIA loans are to be primarily secured by and repaid from revenues not generated by the project and unrelated to project performance, operations or capacity.  Examples of such collateral include tax revenues (e.g., general sales tax, motor fuel tax) or general obligations or moral obligations of the state.