I made a template in Cubase 9 that I would like to open in Cubase 7. Is it possible? Alternatively, can I import the tracks from 9 project into 7 project?
Sure you can open 9 projects in versions that go way back. The caveat being if it uses capabilities introduced in Cubase 8 to 9 those won’t be available in 7. You should open the Template in 9 and then save it as a Project. Then open that Project in 7.
This chart needs to be updated for 9, but you get the idea.
Since importing Tracks from another Project was introduced in C9 you wouldn’t be able to do that from C7 regardless of what version the source Project was created with.