Intramembrane-cleaving aspartic protease (I-CLiP) that cleaves type II membrane signal peptides in the hydrophobic plane of the membrane. Ubiquitous. Expressed in the shoot meristem and root epidermal cells in germinating seeds. The first transmembrane domain may act as a type I signal anchor. The PAL motif is required for normal active site conformation. Belongs to the peptidase A22B family.