o Subsidiary definition
o Subsidiary. Subsidiary" means any corporation, partnership, joint venture or other business entity over which the Parent exercises control, provided that it shall be conclusively presumed that the Parent exercises control over Starcraft, Imperial, Starcraft Southwest and National and any other entity 51% or more of which is owned by the Parent, directly or indirectly.
o Subsidiary with respect to any Person, (1) any corporation of which more than 50% of the issued and outstanding capital stock having ordinary voting power to elect a majority of the Board of Directors of such corporation (irrespective of whether at the time capital stock of any other class or classes of such corporation shall or might have voting power upon the occurrence of any contingency) is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such Person's other Subsidiaries and (2) any partnership, joint venture or other association of which more than 50% of the equity interests having the power to vote to direct or control the management of such partnership, joint venture or other association is at the time owned or controlled, directly or indirectly, by such Person, by such Person and one or more of the other Subsidiaries or by one or more of such Person's other Subsidiaries.