definiens: shall mean a Third Party granted any of [COMPANY] ’s or Aqua ’s rights to [COMPANY] Intellectual Propertyhereunder, or appointed by a licensee or its Affiliates to carry out some of the activities of [COMPANY], Aqua, or anyAffiliate of either of the foregoing under this Agreement, such as Development and/or Commercialization of a LicensedProduct in a country or region of the Territory, and possibly also local manufacture, in a country within the Territorywhere [COMPANY], Aqua, or any Affiliate of either of the foregoing may or may not have a direct presence and whether ornot the local Regulatory Approval in such country ( or countries ) may be held by such Third Party . For clarity, anysuch Third Party that will not hold a local Regulatory Approval shall be considered as a distributor and not aSublicensee