(d) any corporation, juristic person, institution, undertaking or entity which is directly or indirectly owned or controlled by the State Party;. "Secretariat" means the Secretariat of the DFI SubCommittee; "security" means, in relation to a borrower, any asset (whether corporeal or incorporeal) offered as security or collateral by the borrower to the relevant lender, to secure the repayment, by the borrower, of the debt of the borrower which is owed to such lender ; "securitisation" means a mechanism which provides a person (known as the "originator") with immediate cash, raised indirectly through the issue of bonds on the relevant financial exchange, by means of the sale by that originator of certain receivables, such as rights to be repaid any debt, to a special purpose vehicle, which special purpose vehicle pays the purchase price of such receivables out of the proceeds of the fore mentioned issue of bonds. The Bonds are secured by such receivables; "senior debt" means, in relation to a borrower, the debt of that borrower which is not subordinated to any of the other debt of the borrower (including the junior debt of that borrower and the mezzanine debt of the borrower), and which accordingly ranks highest in priority of payment; "Special Purpose Vehicle" means, in relation to a securitisation, an entity which is used in that securitisation to (among other things) purchase the relevant receivables sold by the relevant originator and such entity is not owned or controlled by the relevant originator, and the balance sheet of such entity does not need to be consolidated with that of the relevant originator for accounting purposes; "State loan" means, in relation to a State Party and for purposes of this Annex , an agreement of loan concluded between the State Party as borrower and the relevant DFI as lender in 87