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

Representations with Respect to Rule 17f-5. The Foreign Custody ------------------------------------------ Manager represents to the Trust that it is a U.S. Bank as defined in section (a)(7) of Rule 17f-5. The Trust represents to the Custodian that the Board has determined that it is reasonable for the Board to rely on the Custodian to perform the responsibilities delegated pursuant to this Contract to the Custodian as the Foreign Custody Manager of the Portfolios.

Representations with Respect to Rule 17f-5. The Foreign Custody ------------------------------------------ Manager represents to the Trust that it is a U.S. Bank as defined in section (a)(7) of Rule 17f-5. The Trust represents to the Custodian that the Board has determined that it is reasonable for the Board to rely on the Custodian to perform the responsibilities delegated pursuant to this Contract Agreement to the Custodian as the Foreign Custody Manager of the PortfoliosTrust.

Representations with Respect to Rule 17f-5. The Foreign Custody ------------------------------------------ Manager represents to the Trust that it is a U.S. Bank as defined in section (a)(7) of Rule 17f-5. The Trust represents to the Custodian that the Board has determined that it is reasonable for the Board to rely on the Custodian to perform the responsibilities delegated pursuant to this Contract to the Custodian as the Foreign Custody Manager of the PortfoliosFunds.

Representations with Respect to Rule 17f-5. The Foreign Custody ------------------------------------------ Manager represents to the Trust that it is a U.S. Bank as defined in section (a)(7) of Rule 17f-5. The Trust represents to the Custodian that the Board of Trustees has determined that it is reasonable for the Board of Trustees to rely on the Custodian to perform the responsibilities delegated pursuant to this Contract Agreement to the Custodian as the Foreign Custody Manager of the Portfolios.