1.1 Affiliated Company means any legal entity owned or controlled by the Client (in relation to the CLIENT) or by BIS for so long as such ownership or control lasts. Ownership or control shall exist through direct ownership of more than fifty per cent (50%) of the nominal value of the issued equity share capital or of more than fifty per cent (50%) of the shares entitling the holders to vote for the election of directors or persons performing similar functions or to rights by any other means to elect or appoint directors or persons who collectively may exercise such control or through indirect ownership of all of the issued equity share capital.