TOURNAMENTS  SECTION XII - WTA TOURNAMENT MEMBERSHIPS otherwise) an ownership interest in more than 45% of WTA Tournaments  in the European Geographic Region or the Americas Geographic Region  or the Asia-Pacific Geographic Region (as these Regions are defined by  the WTA for the purposes of Top 10 Player Delivery); and/or: (i)  25% of all WTA 1000 Tournaments; or (ii)  25% of all WTA 500 Tournaments; or (iii) 40% of all WTA 250 Tournaments. b.  Any entity having ownership interests in WTA Tournaments that exceed  any of the limitations set forth in sub-Section a above as of June 23, 1999,  will be grandfathered as to any such Tournaments above such limitations. However, if such entity sells its ownership interest in a Tournament, it  thereafter will not have the right to purchase or obtain an ownership  interest in any additional WTA Tournament without WTA approval, if such  entity has ownership interests at or above any of the limitations set forth  in sub-Section a above. c.  For purposes of this Rule, the words “ownership interest” shall mean: i.  Any direct or indirect proprietary interest in a Tournament other than  an interest of 5% or less in any call of the equity or debt securities of  a member whose shares are traded on an internationally recognized  securities exchange (a “proprietary interest”); or ii.  With respect to any Tournament in which the relevant person, entity,  or group does not have a proprietary interest, the right to: (a)  Exercise the Tournament’s voting rights; (b) Apply to the WTA for a change in the venue or geographic  location of the Tournament; (c)  Serve as or appoint the Tournament’s designated representative;  or (d) Transfer any of the rights described in sub-Sections (a)-(c)  above, or apply to the WTA for approval to Transfer any direct  or indirect proprietary interest in the Tournament. d.  Without limiting the generality of sub-Section c.i, a person or entity shall  be deemed to have an ownership interest in a Tournament if it has a  direct or indirect interest in the proceeds resulting from the sale of that  226