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as of January 1, 1985, depends on: (1) The remaining term to
maturity; (2) whether the debt was subject to any call or put
options; and (3) whether any principal repayments would be made
pursuant to either a mandatory schedule or terms that provided
for repayment of principal on the debt based on the rate of
principal repayments received on the mortgages serving as
collateral. On January 1, 1985, the average weighted lives of
petitioner’s 30 debt instruments in issue were as follows:
Debt Average weighted life
G-15 5 years, 5 months
G-16 6 years, 8 months
G-17 12 years, 5 months
F-8 11 months
F-11 8 years, 11 months
F-12 2 months
F-13 12 years, 2 months
F-15 5 months
F-18 1 year, 2 months
D-2 5 years, 3 months
Z-2 34 years, 11 months
Z-3 9 years, 11 months
ND 1 year, 8 months
CD-1 4 years, 0 months
GMC A 1975 3 years, 4 months
GMC B 1975 3 years, 9 months
GMC A 1976 3 years, 10 months
GMC B 1976 5 years, 6 months
GMC A 1977 4 years, 9 months
GMC B 1977 6 years, 3 months
GMC C 1977 8 years, 2 months
GMC A 1978 8 years, 5 months
GMC B 1978 7 years, 4 months
GMC C 1978 7 years, 4 months
GMC A 1979 6 years, 10 months
GMC B 1979 6 years, 10 months
GMC C 1979 7 years, 4 months
CMO A-2 5 years, 11 months
CMO A-3 17 years, 7 months
CMO C-4 14 years, 6 months
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