| Uncertainty in the stranded debt from electricity sector restructuring arises from the numerous estimates and assumptions made about the future defeasance of this debt. |
| In the case of the loan from BK1, X's economic risk is completely eliminated through the defeasance arrangement. |
| It exists only at the sufferance of Congress and is subject to complete defeasance. |
| As in the previous year, institutions continued to spin off certain difficult asset portfolios to defeasance structures. |
| However, a defeasance is not a permitted remedial action if it does not satisfy the 10 year limitation on defeasances. |
| It does look as if it is to aid the taxpayer though, does it not, because it is then subject to defeasance, if you like, under itself. |
