Dilos Mortgage definition

Dilos Mortgage means the first priority or (as the case may be) preferred mortgage of the Dilos Ship executed or (as the context may require) to be executed by the Dilos Borrower in favour of the Bank in such form as the Bank may require in its sole discretion;

Dilos Mortgage means the first preferred Liberian mortgage of the Dilos Ship dated 5 May 2010 executed by the Dilos Borrower in favour of the Bank as amended and supplemented by a mortgage addendum dated 11 February 2011 executed by the Dilos Borrower and the Bank;