Company: LAZ
Filing Date: 2025-07-29
Form Type: 424B5
Source: 0001311370-25-000033
Chunk: 28

Company: Lazard, Inc.
Filing Date: 2025-07-29
Form: 424B5
Chunk 28
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 Agencies (as both terms are defined below) on any date not later than the end of the 60-day period following public notice of such occurrence of a Change of Control (which 60-day period shall be extended so long as the rating of the notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided , however , that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Below Investment Grade Rating Event for purposes of the definition of Change of Control Triggering Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at our request that the reduction was the result, in whole or in substantial part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control has occurred at the time of the Below Investment Grade Rating Event).

A “Change of Control” means the occurrence at such time after the original issuance of the notes, of the following:

(1) a “person” or “group” within the meaning of Section 13(d)(3) of the Exchange Act, other than (x) Lazard, Inc. and its subsidiaries (including us and our subsidiaries) or (y) any such person or group a majority of which (measured by reference to beneficial ownership of voting stock) consists of current executive officers, managing directors or other employees of Lazard, Inc. and its subsidiaries (including us and our subsidiaries) (any such person or group described in clauses (x) and (y), a “Permitted Holder”), has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of (i) our membership units representing more than 50% of the voting power of our membership units entitled to vote generally in the election of directors or (ii) for so long as Lazard, Inc. controls us, common stock of Lazard, Inc. representing more than 50% of the voting power of common stock of Lazard, Inc. entitled to vote generally in the election of directors of Lazard, Inc.;

(2) the current executive officers, managing directors or other employees of Lazard, Inc. and its subsidiaries (including us and our subsidiaries) have become the direct