SECURITY STRUCTURE definition
SECURITY STRUCTURE means is considered in place when the debt securities issued by the applicant issuer are guaranteed by a ring-fenced insolvency remote vehicle (hereinafter referred to as the “Security SPV”) and the Security SPV has recourse to the assets and/or bank accounts of the applicant issuer and/or other entities within the issuer’s group structure through an indemnity from the applicant issuer and/or other entities within the issuer’s group structure and the cession and pledge of the assets and/or bank accounts of the applicant issuer and/or other entities within the issuer’s group structure to the Security SPV;
SECURITY STRUCTURE means any building or part of a building used by a caretaker, staff or manager for security purposes. A security structure is not for residential use; and