Naxos Mortgage definition

Naxos Mortgage means the first priority or (as the case may be) preferred mortgage of the Naxos Ship executed or (as the context may require) to be executed by the Naxos Borrower in favour of the Security Agent and/or any other Creditors in such form as the Agent (acting on the instructions of the Majority Banks in their sole discretion) may require;

Naxos Mortgage means the first preferred Greek mortgage over the Naxos Ship executed or (as the context may require) to be executed by the Naxos Owner in favour of the Banks, the Agent and the Swap Providers in the form set out in Schedule 5 of the Tenth Supplemental Agreement;