It is the term applied to a one-year-old sheep.
( It ( ( is ( ( the term ) ( applied ( to ( a ( one-year-old sheep ) ) ) ) ) ) . ) )
(ROOT (S (NP (PRP It)) (VP (VBZ is) (NP (NP (DT the) (NN term)) (VP (VBN applied) (PP (TO to) (NP (DT a) (JJ one-year-old) (NN sheep)))))) (. .)))
A sheep of one years of age has this term.
( ( ( A sheep ) ( of ( ( one years ) ( of age ) ) ) ) ( ( has ( this term ) ) . ) )
(ROOT (S (NP (NP (DT A) (NN sheep)) (PP (IN of) (NP (NP (CD one) (NNS years)) (PP (IN of) (NP (NN age)))))) (VP (VBZ has) (NP (DT this) (NN term))) (. .)))