definiens: ( including, with correlative meanings,, and ) means ( a ) possession, direct or indirect, of the power to direct or cause direction of the management or pol icies of an entity ( whether through ownership of securities or other ownership interests, by contract or otherwise ), or ( b ) beneficial ownership of more than 50 % ( or the maxim um ownership interest permitted by applicable Law ) of the voting securities or other ownership or general par tnership interest ( whether directly or pursuant to any option, warrant or other similar arrangement ) or other comp arable equity interests of an entity ; provided, how ever, that where an entity owns a majority of the voting power necessary to elect a majority of the board of dire ctors or other governing board of another entity, but is restricte d from electing such majority by contract or otherw ise, such entity will not be considered to be in control of such oth er entity until such time as such restrictions are no longer in effect