definiens: shall mean and include in relation to each Party, any person, firm, corporation or other entity : ( i ) if at least fifty percent ( 50 % ) of the voting stock or other equity interest thereof is ow ned, directly or indirectly, by that Party ; ( ii ) which o wns, directly or indirectly, at least fifty percent ( 50 % ) of the voting stock or other equity interest of tha t Party ; or ( iii ) if at least fifty percent ( 50 % ) o f the voting stock or other equity interest thereof is ow ned, directly or indirectly, by a person, firm, corporation or other entity that owns, directly or indirectly, at least fifty percent ( 50 % ) of the vot ing stock or other equity interest of that Party, provi ded that with respect to Licensee, an institutional investor ( and any entity that otherwise would be tr eated as an Affiliate through control exerted by su ch investor or controlling such investor ) shall not be treated as an Affiliate of Licensee hereunder