definiens: means . with respect to Party . any person or entity controlling, controlled by, or under corrunon control with such Party . For the purposes of this Section 1.1 only, means ( a ) the possession, directly or indirectly, of the power to direct the management or policies of a Person, whether through the ownership of voting securities, by contract or otherwise, or ( b ) the ownership, directly or indirectly, of at least fifty percent ( 50 % ) ( or, if less, the maximwn ownership interest pennitted by law ) of the voting securities or other ownership interest of a Person ; provided that, if local law requires a minimwn percentage of local ownership in excess of fifty percent ( 50 % ), then control will be established by direct or indirect beneficial ownership of one hundred percent ( 100 % ) of the maximwn ownership percentage that may, under such local law, be owned by foreign interests