Base Offering Circular Multifamily
67
Disqualified Organization ......... Either (a) the United States, (b) any state or political subdivision
thereof, (c) any foreign government, (d) any international
organization, (e) any agency or instrumentality of any of the
foregoing, (f) any tax-exempt organization (other than a
cooperative described in section 521 of the Code) that is exempt
from federal income tax unless that organization is subject to tax
under the unrelated business taxable income provisions of the
Code, (g) any organization described in section 1381(a)(2)(C) of
the Code, (h) an electing large partnership as defined in
section 775 of the Code or (i) any other entity identified as a
disqualified organization by the REMIC Provisions. A
corporation will not be treated as an instrumentality of the
United States or any state or political subdivision thereof if all of
its activities are subject to tax and, with the exception of Freddie
Mac, a majority of its board of directors is not selected by that
governmental unit.
Distribution Amount ................. With respect to each Series (or, if the Series is segregated into
Security Groups, each Security Group) and each Distribution
Date, the sum of the Principal Distribution Amount (less
principal, if any, payable to the Trustee as a Trustee Fee), the
Interest Distribution Amount, if any, and the Accrual Amount(s)
for the Series (or Security Group).
Distribution Date....................... The date specified in the Trust Agreement or MX Trust
Agreement, as applicable, relating to each Series (or Security
Group) upon which distributions are required to be made to
Holders of Securities of such Series (or Security Group).
Double REMIC Series .............. A Series that provides for an Issuing REMIC and one or more
Pooling REMICs.
e-Access ................................... Ginnie Maes Multiclass Securities e-Access, a database of
information related to the Ginnie Mae Securities and Ginnie Mae
Platinum Certificates located on Ginnie Maes website at
http://www.ginniemae.gov.
Effective Range......................... With respect to any PAC, Scheduled or TAC Class or
Component, the range of constant prepayment rates for which
such Class or Component adheres to its schedule of Scheduled
Principal Balances.
Eligible Certificates................... Any Ginnie Mae Securities, as well as any Fannie Mae
Securities or Freddie Mac Securities that are held in book-entry
form.