Legal Definitions - structure

Structure refers to either:

• A physical construction, meaning a tangible object built from various parts joined together.
• The organized arrangement or framework of components that form a system, plan, or entity.

Here are some examples illustrating the concept of a structure:

• Imagine a newly constructed solar farm. This farm consists of thousands of solar panels, support frames, electrical wiring, and control buildings, all meticulously assembled on a large plot of land to generate electricity. This entire complex is considered a structure.

  This example illustrates the first meaning: a physical construction made from many individual parts purposefully joined together to create a functional whole.

• Consider a non-profit organization that provides legal aid to low-income individuals. The way it organizes its board of directors, executive staff, volunteer attorneys, and administrative support, along with the established procedures for decision-making and client intake, constitutes its organizational structure.

  Here, "structure" refers to the second meaning: the deliberate arrangement of different roles, departments, and processes that define how the organization operates and functions.

• A complex real estate transaction might involve a financing structure that combines a traditional bank loan with private equity investment and a seller-financed portion, each with specific repayment terms and conditions. The legal documents would detail how these different funding sources are integrated and managed.

  In this context, "structure" describes the intricate arrangement and interrelationship of various financial components and their associated legal obligations, forming a comprehensive plan for funding the purchase.