As defined in the Participation Agreement, Affiliate means, in relation to a Party, any other entity Controlling, Controlled or under common Control with the Party. "Control" and its derivatives mean either the holding, directly or indirectly, of 50 % or more than 50% ownership interest or the statutory or de facto authority to exercise a decisive influence on the appointment of the majority of directors or managers or the orientation of policy provided it is, at EMVO’s own absolute discretion, sufficiently proven.