Common use of Affiliated Clause in Contracts

Affiliated. Companies refer to any entity or organization, including associations, companies, or partnerships, that directly or indirectly controls, is controlled by, or is under common control with a party through one or more intermediaries. “Control” refers to owning more than 51% of the shares of the controlled entity; or owning less than 51% of such shares but having the ability to exercise more than 51% of the voting rights through agreements with other voting rights holders.