Members’ Equity definition

Members’ Equity ownership equity of the Company represented by common members’ interests.

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Members’ Equity has the meaning given in Section 7.11.

Members’ Equity means, as of any date of determination, the consolidated balance sheet "members equity" of Borrower determined in accordance with generally accepted accounting principles consistently applied. As used in this Agreement, "Subordinated Debt" means Indebtedness of Borrower which by its terms provides that no payments or distributions may be made thereon or in respect thereto at any time when a default has occurred and is continuing under a document providing for repayment of Indebtedness of Borrower for borrowed money (other than such Subordinated Debt) or for the payment by Borrower of the purchase price of tangible property.

Examples of Members’ Equity in a sentence

• Complete copies of the Company’s audited financial statements, describing the financial position of the Company since its formation in 2017, and the related audited Balance Sheet, Statement of Income, Statement of Cash Flows for the aforementioned period, as well as Statement of Members’ Equity for the Company (collectively, the “Financial Statements”) are attached to the Offering Circular (see, Offering Circular, at PART F/S).

• Following delivery of a Dispute Notice to Lazard Group, Lazard Group and its accountants and advisers shall be provided with reasonable access to the work papers of LFCM and its accountants relating to the calculation of the amounts of Closing Members’ Equity as set forth in such Dispute Notice.

• If no Dispute Notice is received by Lazard Group on or prior to the last day of the Review Period, the Closing Balance Sheet and the amount of Closing Members’ Equity, as delivered by Lazard Group to LFCM, shall be deemed accepted by LFCM and shall be final and binding on LFCM.

• Lazard Group and its accountants and advisers shall be provided with reasonable access to the work papers of LFCM and its accountants to prepare the Closing Balance Sheet and the calculation of Closing Members’ Equity.

• Members’ Equity 1 Rollforward schedule for equity detailing contributions, distributions, income/loss, and other activity from inception to 12/31/12 2 Schedule/detail of contributions and distributions that occurred during 2011 and 2012.

More Definitions of Members’ Equity

Members’ Equity means, as of any applicable date, the members’ equity of LFCM, on a consolidated basis, as prepared in accordance with United States generally accepted accounting principles and consistent with past practice; provided, however, that, in calculating such members’ equity: (a) employee compensation and benefits expense in respect of the period beginning on January 1, 2005 and ending on such applicable date shall be assumed to have accrued at an amount equal to 57.5% of the aggregate “operating revenues” (as defined in the Registration Statement on Form S-1 for the issuance of shares of Lazard Ltd Common Stock) of LFCM, on a pro forma basis as if the Separation had occurred, for such period, and all LFCM managing directors’ payment for services rendered during such period shall be assumed to have been included within the foregoing accrued employee compensation and benefits expense (rather than as a distribution to members or minority interest expense); (b) no reserves or write-offs shall be booked in respect of indemnities that LFCM provides to Lazard Group under this Agreement, including in respect of potential lease and pension reimbursements; (c) all costs and expenses in connection with the IPO and Recapitalization shall be accounted for as expenses incurred after the Distribution; and (d) the LFCM Note shall be disregarded.

Members’ Equity means, as of any date of determination, consolidated members’ equity of the Borrower and its Subsidiaries as of that date determined in accordance with GAAP.

Members’ Equity means .

Members’ Equity shall refer to the total Members’ Equity as detailed on the Closing Balance Sheet of the Company.

Members’ Equity means total assets of the Company less total liabilities of the Company.

Members’ Equity means the allocable share of profits and losses of the Company to each Member in accordance with each Member’s ownership interest (i.e., Shares) in the Company.

Members’ Equity means, as of the applicable time, the equity book value of the Company (and each component thereof) based on the balance sheet of the Company, prepared in good faith, in a manner consistent with Exhibit H hereto and in accordance with the Accounting Principles.