PERMITTED BANK DEBT. Means the principal of (and premium, if any), interest on, and all fees and other amounts (including, without limitation, any reasonable out-of-pocket costs, enforcement expenses (including reasonable out-of-pocket legal fees and disbursements), collateral protection expenses and other reimbursement or indemnity obligations relating thereto) payable by Company and/or its Subsidiaries under or in connection with any credit facility to be entered into by the Company and/or its Subsidiaries with
... one or more financial institutions (and on terms and conditions) reasonably satisfactory to the Required Holders (together with any amendments, restatements, renewals, refundings, refinancings or other extensions thereof); provided, however, that the aggregate outstanding amount of such Permitted Bank Debt (taking into account the maximum amounts which may be advanced under the loan documents evidencing such Permitted Bank Debt) does not as of the date on which any such Permitted Bank Debt is incurred exceed (i) $20,000,000, with respect to the unpaid principal balance of loans thereunder (collectively, "CREDIT LOANS"), and (ii) $0, with respect to all reimbursement and other payment obligations of the Company in connection with letters of credit issued for the account of the Company to secure real estate lease obligations with respect to the manufacturing facility located in Korea and operated by SpatiaLight Korea, Inc. (collectively, "L/C OBLIGATIONS"), provided, further, that any such L/C Obligations shall be fully secured by cash pledged to and held by as the issuers (or confirming issuers) of such letters of credit and no other assets.
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