{"component": "definition", "props": {"groups": [{"size": 14, "snippet": "ownership equity of the Company represented by common members\u2019 interests.", "samples": [{"hash": "dpN4x7104NC", "uri": "/contracts/dpN4x7104NC#members-equity", "label": "Credit Agreement (Lazard, Inc.)", "score": 36.1485284052, "published": true}, {"hash": "coQ624FBG1K", "uri": "/contracts/coQ624FBG1K#members-equity", "label": "Credit Agreement (Lazard Group LLC)", "score": 32.5770020534, "published": true}, {"hash": "b38ky3qy33I", "uri": "/contracts/b38ky3qy33I#members-equity", "label": "Credit Agreement (Lazard LTD)", "score": 32.5770020534, "published": true}], "snippet_links": [{"key": "equity-of-the-company", "type": "definition", "offset": [10, 31]}, {"key": "represented-by", "type": "clause", "offset": [32, 46]}, {"key": "common-members", "type": "definition", "offset": [47, 61]}], "hash": "29b79f1c636559cb3fdfa4023a8d65b3", "id": 1}, {"size": 4, "snippet": "has the meaning given in Section 7.11.", "samples": [{"hash": "kWELUULEspu", "uri": "/contracts/kWELUULEspu#members-equity", "label": "Credit Agreement (United Grocers Inc /Or/)", "score": 18.0, "published": true}, {"hash": "gz9NbH3b0uN", "uri": "/contracts/gz9NbH3b0uN#members-equity", "label": "Credit Agreement (United Grocers Inc /Or/)", "score": 18.0, "published": true}, {"hash": "2mJ7oO17fdW", "uri": "/contracts/2mJ7oO17fdW#members-equity", "label": "Credit Agreement (United Grocers Inc /Or/)", "score": 18.0, "published": true}], "snippet_links": [], "hash": "fb57d86bb7b4a7abcbea2c4e258f779b", "id": 2}, {"size": 4, "snippet": "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.", "samples": [{"hash": "kWELUULEspu", "uri": "/contracts/kWELUULEspu#members-equity", "label": "Credit Agreement (United Grocers Inc /Or/)", "score": 18.0, "published": true}, {"hash": "gz9NbH3b0uN", "uri": "/contracts/gz9NbH3b0uN#members-equity", "label": "Credit Agreement (United Grocers Inc /Or/)", "score": 18.0, "published": true}, {"hash": "2mJ7oO17fdW", "uri": "/contracts/2mJ7oO17fdW#members-equity", "label": "Credit Agreement (United Grocers Inc /Or/)", "score": 18.0, "published": true}], "snippet_links": [{"key": "date-of-determination", "type": 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{"key": "tangible-property", "type": "definition", "offset": [613, 630]}], "hash": "05e171a308ae166df583bdf7ffba564a", "id": 3}, {"size": 3, "snippet": "means, as of any applicable date, the members\u2019 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\u2019 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 \u201coperating revenues\u201d (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\u2019 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.", "samples": [{"hash": "kUuPbQFzwZ1", "uri": "/contracts/kUuPbQFzwZ1#members-equity", "label": "Master Separation Agreement (Lazard LTD)", "score": 21.0, "published": true}, {"hash": "4IiC3hJFFQZ", "uri": "/contracts/4IiC3hJFFQZ#members-equity", "label": "Master Separation Agreement (LAZ-MD Holdings LLC)", "score": 21.0, "published": true}], "snippet_links": [{"key": "applicable-date", "type": "clause", "offset": [17, 32]}, {"key": "the-members", "type": "clause", 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613]}, {"key": "pro-forma-basis", "type": "clause", "offset": [629, 644]}, {"key": "the-separation", "type": "clause", "offset": [651, 665]}, {"key": "managing-directors", "type": "definition", "offset": [710, 728]}, {"key": "payment-for-services-rendered", "type": "clause", "offset": [730, 759]}, {"key": "the-foregoing", "type": "definition", "offset": [825, 838]}, {"key": "distribution-to-members", "type": "clause", "offset": [908, 931]}, {"key": "minority-interest-expense", "type": "definition", "offset": [935, 960]}, {"key": "lazard-group", "type": "definition", "offset": [1057, 1069]}, {"key": "this-agreement", "type": "clause", "offset": [1076, 1090]}, {"key": "costs-and-expenses", "type": "definition", "offset": [1168, 1186]}, {"key": "in-connection-with", "type": "clause", "offset": [1187, 1205]}, {"key": "the-ipo", "type": "clause", "offset": [1206, 1213]}, {"key": "expenses-incurred", "type": "clause", "offset": [1261, 1278]}, {"key": "the-distribution", "type": "clause", "offset": [1285, 1301]}, {"key": "lfcm-note", "type": "definition", "offset": [1315, 1324]}], "hash": "cbe4508eccf716b77bc59d2bcd400ecc", "id": 4}, {"size": 3, "snippet": "means, as of any date of determination, consolidated members\u2019 equity of the Borrower and its Subsidiaries as of that date determined in accordance with GAAP.", "samples": [{"hash": "aoQ3qnYqXav", "uri": "/contracts/aoQ3qnYqXav#members-equity", "label": "Credit Agreement (Diamondback Energy Services, Inc.)", "score": 21.0, "published": true}, {"hash": "9MjK7tSC9MN", "uri": "/contracts/9MjK7tSC9MN#members-equity", "label": "Credit Agreement (Diamondback Energy Services, Inc.)", "score": 21.0, "published": true}], "snippet_links": [{"key": "date-of-determination", "type": "clause", "offset": [17, 38]}, {"key": "consolidated-members", "type": "definition", "offset": [40, 60]}, {"key": "borrower-and-its-subsidiaries", "type": "definition", "offset": [76, 105]}, {"key": "in-accordance-with", "type": "definition", 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"snippet_links": [{"key": "the-total", "type": "clause", "offset": [15, 24]}, {"key": "closing-balance-sheet", "type": "clause", "offset": [60, 81]}, {"key": "of-the-company", "type": "clause", "offset": [82, 96]}], "hash": "4a43a770b01f2d5abd96a3fdc2cf4160", "id": 7}, {"size": 2, "snippet": "means total assets of the Company less total liabilities of the Company.", "samples": [{"hash": "cuPAEJhOWUb", "uri": "/contracts/cuPAEJhOWUb#members-equity", "label": "Merger Agreement (Alleghany Corp /De)", "score": 18.0, "published": true}, {"hash": "3yNZLRj3RKf", "uri": "/contracts/3yNZLRj3RKf#members-equity", "label": "Agreement and Plan of Merger (Alleghany Corp /De)", "score": 18.0, "published": true}], "snippet_links": [{"key": "assets-of-the-company", "type": "definition", "offset": [12, 33]}, {"key": "liabilities-of-the-company", "type": "clause", "offset": [45, 71]}], "hash": "6f8f9550a17d32ee65be97e1371632a4", "id": 8}, {"size": 2, "snippet": "means the allocable share of profits and 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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.", "samples": [{"hash": "14hu8nH1g6N", "uri": "/contracts/14hu8nH1g6N#members-equity", "label": "Membership Interest Purchase Agreement (Landsea Homes Corp)", "score": 35.0205338809, "published": true}], "snippet_links": [{"key": "applicable-time", "type": "clause", "offset": [17, 32]}, {"key": "book-value-of-the-company", "type": "definition", "offset": [45, 70]}, {"key": "based-on", "type": "clause", "offset": [100, 108]}, {"key": "balance-sheet", "type": "clause", "offset": [113, 126]}, {"key": "in-good-faith", "type": "clause", "offset": [152, 165]}, {"key": "consistent-with", "type": "definition", "offset": [179, 194]}, {"key": "exhibit-h", "type": "definition", "offset": [195, 204]}, {"key": "in-accordance-with", "type": "definition", "offset": [216, 234]}, {"key": "accounting-principles", "type": "definition", "offset": [239, 260]}], "hash": "571955c9283a2707eeeaea8e55a13c36", "id": 10}], "next_curs": "ClsSVWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjcLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIXbWVtYmVycy1lcXVpdHkjMDAwMDAwMGEMogECZW4YACAA", "definition": {"size": 46, "snippet": "ownership equity of the Company represented by common members\u2019 interests.", "title": "Members\u2019 Equity", "id": "members-equity", "examples": ["Complete copies of the Company\u2019s 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 <strong>Members\u2019 Equity</strong> for the Company (collectively, the \u201cFinancial Statements\u201d) 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 <strong>Members\u2019 Equity</strong> 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 <strong>Members\u2019 Equity</strong>, 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 <strong>Members\u2019 Equity</strong>.", "<strong>Members\u2019 Equity</strong> 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.", "If LFCM believes that the Closing Balance Sheet or that Lazard Group\u2019s calculation of Closing <strong>Members\u2019 Equity</strong> was incorrect, LFCM may, on or prior to the last day of the Review Period, deliver a notice to Lazard Group setting forth, in reasonable detail, each disputed item or amount and the basis for LFCM\u2019s disagreement therewith, together with supporting calculations (the \u201cDispute Notice\u201d).", "The undersigned also acknowledges that he shall be responsible for compliance with all conditions on transfer imposed by any blue sky or securities law administrator and for any expenses incurred by the Company for legal or accounting services in connection with reviewing such proposed transfer.", "The determinations of the Independent Accounting Firm with respect to the Closing Indebtedness, Closing <strong>Members\u2019 Equity</strong>, Closing Working Capital and Adjustment Amount will be final and binding on the parties for purposes of Section 2.03(i).", "Promptly and, in any event, no later than three (3) Business Days following the Resolution Date, (i) if the Closing <strong>Members\u2019 Equity</strong> (as finally determined under this Section 2.9) is greater than the Target <strong>Members\u2019 Equity</strong>, LFCM shall pay to Lazard Group an amount of cash equal to such difference and (ii) if Target <strong>Members\u2019 Equity</strong> is greater than the Closing <strong>Members\u2019 Equity</strong> (as finally determined under this Section 2.9), Lazard Group shall pay to LFCM an amount of cash equal to such difference.", "If LFCM believes that the Closing Balance Sheet was not prepared in accordance with the Accounting Principles or that Lazard Group\u2019s calculation of Closing <strong>Members\u2019 Equity</strong> was incorrect, LFCM may, on or prior to the last day of the Review Period, deliver a notice to Lazard Group setting forth, in reasonable detail, each disputed item or amount and 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