definiens: means, with respect to a Party, any Person that controls, is controlled by, or is under common control with that Party . Forthe purpose of this definition, or means, direct or indirect, ownership of fifty percent ( 50 % ) or more of the shares ofstock entitled to vote for the election of directors in the case of a corporation or fifty percent ( 50 % ) or more of the equity interest in the caseof any other type of legal entity ; status as a general partner in any partnership ; or any other arrangement whereby the Person controls or hasthe right to control the board of directors or equivalent governing body of a corporation or other entity or the ability to cause the direction ofthe management or policies of a corporation or other entity . The Parties acknowledge that in the case of entities organized under the laws ofcertain countries where the maximum percentage ownership permitted by law for a foreign investor is less than fifty percent ( 50 % ), suchlower percentage shall be substituted in the preceding sentence, provided that such foreign investor has the power to direct the managementand policies of such entity . With respect to the definitions of Ayala Patents and Ayala Know - How, and with respect to the grant of licenserights by Ayala to [COMPANY] under Section 4.1 in respect thereof, of Ayala shall exclude any Third Party that becomes an Affiliatedue to such Third Party ’s acquisition of Ayala