LINQ is a library that contains a set of extension methods (mostly to IEnumerable) that makes heavy uses of lambdas. The lambda is itself an anonymous delegate and is just simple syntax sugar. It gives you an easy way to define a function "in line" and pass that function to some method.
for example you can write the above code like this:
var result = object.Where(delegate(e) {
return e.objectParameter > 5;
}).Any()
