definiens: of a person or entity means any oth er person or entity which ( directly or indirectly ) is controlled by, controls or is under common control with such first person or entity . For the purposes of this definition, the term ( including, with cor relative meanings, the terms and ) as used with respect to any e ntity means ( a ) in the case of a corporate entity, direct or indirect ownership of voting securities entitled to cast at least fifty percent ( 50 % ) of the votes in the election of directors or ( b ) in the case of a non - corporate ent ity, direct or indirect ownership of at least fifty percent ( 50 % ), including ownership by trusts with substantially th e same beneficial interest, of the equity interests with the power to direct the management and policies of such entity, provided that if local law restricts forei gn ownership, control will be established by direct or indirect ownership of the maximum ownership percen tage that may, under such local law, be owned by foreign interests