BP Control Standard definition
BP Control Standard means a condition relating to the management and control of BP Member, which condition shall be deemed to have been satisfied if (a) Key Principal(s), Immediate Family Members of any Key Principal(s), and/or one or more Persons Controlled by Key Principal(s) (in the aggregate, if applicable) shall at all times own, directly or indirectly, an aggregate of not less than sixty-six percent (66%) of the equity in BP Member, and (b) Key Principal(s) shall at all times Control BP Member.