Common use of Premium Amount Clause in Contracts

Premium Amount. Holder agrees that upon the conversion of the Preferred Stock, Holder will contribute to EPL that number of Conversion Shares equal to the Premium Amount set forth in Exhibit C as an additional contribution to capital by the Holder, to be held by EPL as treasury shares pursuant to the Colorado Business Corporation Act. With respect to such contribution to capital, the Holder agrees that upon the conversion of the Preferred Stock, EPL may retain in its treasury the amount of Conversion Shares equal to the Premium Amount.