Dual formulations of Generalized Eigenvectors

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I've seen two definitions of generalized eigenvectors. One is $(A−λ⋅I)^kv=0$ and one where it is $Av = \lambda B v$. I get that they are the same thing but I'm curious. What is the point of both formulations and how does the first lead to the second?

Request for more info:

https://www.netlib.org/lapack/lug/node54.html

Thanks!