Base Offering Circular - Single Family 59 principal  payments  received  on  the  related  Trust  Assets  and  that  is not a Strip or Sequential Pay Class. Paying Agent.............................................  The Book-Entry Depository or another Person appointed with Ginnie Mae’s  consent  to  act,  pursuant  to  the  Trust  Agreement  and,  if applicable, the MX Trust Agreement, as paying agent. Percentage Interest ....................................  As  to  any  Security  or  Pooling  REMIC  Interest,  for  purposes  of allocating distributions, the percentage interest evidenced thereby in distributions   required   to   be   made   on   the   related   Class,   that percentage interest being (a) set forth on the face of that Security or Pooling REMIC Interest or (b) equal to the percentage obtained by dividing   the   denomination   of   that   Security   or   Pooling   REMIC Interest, as applicable, by the aggregate of the denominations of all Securities or Pooling REMIC Interests, as applicable, of the related Class. Periodic Rate Cap......................................  With  respect  to  a  Trust  MBS  representing  a  Ginnie  Mae  II  MBS Certificate backed by adjustable rate Mortgage Loans, the maximum permissible   annual   adjustment,   upward   or   downward,   in   the Certificate Rate. Permitted Transferee .................................  Any  person  that  acquires  an  Ownership  Interest  through  a  Transfer that  is  not  considered  null  and  void  by  the  Trustee  under  the  Trust Agreement. Person........................................................  Any  individual,  corporation,  partnership,  limited  liability  company, joint venture, trust (including any beneficiary thereof), unincorporated  organization  or  government  or  agency  or  political division thereof. Plan............................................................  An employee benefit plan subject to ERISA or Code section 4975. Plan Asset Regulations..............................  The Department of Labor regulations set forth in 29 C.F.R. § 2510.3- 101, as amended from time to time. Plan Investor..............................................  Any of the following: (a) a “benefit plan investor” that is described in or subject to the Plan Asset Regulations; (b) a plan or arrangement that  is  subject  to  Code  section  4975;  (c)  a  “governmental  plan”  as defined in section 3(32) of ERISA; (d) any plan or arrangement that is  subject  to  any  federal,  state,  or  local  law  that  is  substantially similar to the Plan Asset Regulations, Code section 4975, or ERISA section  3(32);  (e)  any  person  acting  on  behalf  of  or  utilizing  the assets of any of the foregoing; and (f) any insurance company that is considered to be a Plan Investor pursuant to the following sentence.   An insurance company is a Plan Investor unless all funds used by the insurance   company   in   acquiring   a   Security   were   held   by   the insurance  company  in  its  general  account,  the  insurance  company will  hold  the  Security  in  its  general  account,  and  the  insurance company   reasonably   believes   that   its   general   account   and   the Security do not and will not constitute “plan assets” for purposes of ERISA and the Plan Asset Regulations. Pooling REMIC.........................................  In the case of a REMIC Series in respect of multiple Trust REMICS (including  a  Double  REMIC  Series),  a  Trust  REMIC  that  holds assets specified in the Trust Agreement, and issues Pooling REMIC