Common use of Representations with Respect to Rule 17f-5 Clause in Contracts

Representations with Respect to Rule 17f-5. The FCM represents to PIMCO that it is a U.S. Bank as defined in Section (a)(7) of Rule 17f-5. PIMCO, on behalf of each Fund, represents to State Street that the applicable Board has determined that it is reasonable for such Board to rely on State Street to perform the responsibilities delegated pursuant to this Agreement to State Street as the FCM of each Portfolio. Each party represents that it will in good faith negotiate revised terms for this Agreement to reflect future guidance from the SEC staff or regulatory amendments affecting Rule 17f-5.

Representations with Respect to Rule 17f-5. The FCM represents to the Trust and PIMCO that it is a U.S. Bank as defined in Section (a)(7) of Rule 17f-517f-5(a)(7). PIMCO, on behalf of each Fundthe Trust, represents to State Street that the applicable Board has determined that it is reasonable for such the Board to rely on State Street to perform the responsibilities delegated pursuant to this Agreement to State Street as the FCM of each Portfolio. Each party represents that it will in good faith negotiate revised terms for this Agreement to reflect future guidance from the SEC staff or regulatory amendments affecting Rule 17f-5Portfolios.

Representations with Respect to Rule 17f-5. The FCM represents to ------------------------------------------ PIMCO that it is a U.S. Bank as defined in Section (a)(7) of Rule 17f-5. PIMCO, on behalf of each Fund, represents to State Street that the applicable Board has determined that it is reasonable for such Board to rely on State Street to perform the responsibilities delegated pursuant to this Agreement to State Street as the FCM of each Portfolio. Each party represents that it will in good faith negotiate revised terms for this Agreement to reflect future guidance from the SEC staff or regulatory amendments affecting Rule 17f-5.