Exhibit 25.1
FORM T-1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2) ¨
THE BANK OF NEW YORK
(Exact name of trustee as specified in its charter)
New York (State of incorporation if not a U.S. national bank) | 13-5160382 (I.R.S. employer identification no.) | |||
One Wall Street, New York, N.Y. (Address of principal executive offices) | 10286 (Zip code) | |||
Asbury Automotive Group, Inc.
(Exact name of obligor as specified in its charter)
Delaware (State or other jurisdiction of incorporation or organization) | 01-0609375 (I.R.S. employer identification no.) | |||
622 Third Avenue, 37th Floor New York, New York (Address of principal executive offices) | 10017 (Zip code) | |||
Exact Name of Registrant Guarantor as Specified in its Charter(1) | State of Incorporation or Organization | I.R.S. Employer Identification Number | ||
AF Motors L.L.C. | Delaware | 59-3604214 | ||
ALM Motors L.L.C. | Delaware | 59-3604216 | ||
ANL L.P. | Delaware | 59-3503188 | ||
Asbury AR Niss L.L.C. | Delaware | 84-1666361 | ||
Asbury Arkansas Hund L.L.C. | Delaware | 56-2411899 | ||
Asbury Atlanta AC L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta AU L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta BM L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Chevrolet L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Hon L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Inf L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Infiniti L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Jaguar L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Lex L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Nis L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta VL L.L.C. | Delaware | 58-2241119 | ||
Asbury Automotive Arkansas Dealership Holdings L.L.C. | Delaware | 71-0817515 | ||
Asbury Automotive Arkansas L.L.C. | Delaware | 71-0817514 | ||
Asbury Automotive Atlanta L.L.C. | Delaware | 58-2241119 | ||
Asbury Automotive Brandon, L.P. | Delaware | 59-3584655 | ||
Asbury Automotive Central Florida, L.L.C. | Delaware | 59-3580818 | ||
Asbury Automotive Deland, L.L.C. | Delaware | 59-3604210 | ||
Asbury Automotive Financial Services, Inc. | Delaware | 75-3061039 | ||
Asbury Automotive Florida, L.L.C. | Delaware | 37-1514249 | ||
Asbury Automotive Fresno L.L.C. | Delaware | 03-0508496 |
2
Exact Name of Registrant Guarantor as Specified in its Charter(1) | State of Incorporation or Organization | I.R.S. Employer Identification Number | ||
Asbury Automotive Group Holdings, Inc. | Delaware | 04-3622391 | ||
Asbury Automotive Group L.L.C. | Delaware | 52-2106837 | ||
Asbury Automotive Jacksonville GP L.L.C. | Delaware | 59-3512660 | ||
Asbury Automotive Jacksonville, L.P. | Delaware | 59-3512662 | ||
Asbury Automotive Management L.L.C. | Delaware | 23-2790555 | ||
Asbury Automotive Mississippi L.L.C. | Delaware | 64-0924573 | ||
Asbury Automotive North Carolina Dealership Holdings L.L.C. | Delaware | 56-2106587 | ||
Asbury Automotive North Carolina L.L.C. | Delaware | 52-2106838 | ||
Asbury Automotive North Carolina Management L.L.C. | Delaware | 52-2106838 | ||
Asbury Automotive North Carolina Real Estate Holdings L.L.C. | Delaware | 23-2983952 | ||
Asbury Automotive Oregon L.L.C. | Delaware | 52-2106837 | ||
Asbury Automotive Oregon Management L.L.C. | Delaware | 93-1255888 | ||
Asbury Automotive South, L.L.C. | Delaware | 37-1514247 | ||
Asbury Automotive Southern California L.L.C. | Delaware | 16-1676796 | ||
Asbury Automotive St. Louis, L.L.C. | Delaware | 43-1767192 | ||
Asbury Automotive Tampa GP L.L.C. | Delaware | 13-3990508 | ||
Asbury Automotive Tampa, L.P. | Delaware | 13-3990509 | ||
Asbury Automotive Texas L.L.C. | Delaware | 13-3997031 | ||
Asbury Automotive Texas Real Estate Holdings L.L.C. | Delaware | 11-3816183 | ||
Asbury Deland Imports 2, L.L.C. | Delaware | 59-3629420 | ||
Asbury Fresno Imports L.L.C. | Delaware | 03-0508500 | ||
Asbury Jax AC, L.L.C. | Delaware | 45-0551011 | ||
Asbury Jax Holdings, L.P. | Delaware | 59-3516633 |
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Exact Name of Registrant Guarantor as Specified in its Charter(1) | State of Incorporation or Organization | I.R.S. Employer Identification Number | ||
Asbury Jax K, L.L.C. | Delaware | 36-4572826 | ||
Asbury Jax Management L.L.C. | Delaware | 59-3503187 | ||
Asbury Jax PB Chev, L.L.C. | Delaware | 37-1504393 | ||
Asbury MS Chev, L.L.C. | Delaware | 06-1749057 | ||
Asbury MS Gray-Daniels L.L.C. | Delaware | 64-0939974 | ||
Asbury MS Metro L.L.C. | Delaware | 91-2121547 | ||
Asbury MS Wimber L.L.C. | Delaware | 06-1625607 | ||
Asbury MS Yazoo L.L.C. | Delaware | 06-1698084 | ||
Asbury No Cal Niss L.L.C. | Delaware | 05-0605055 | ||
Asbury Sacramento Imports L.L.C. | Delaware | 33-1080505 | ||
Asbury So Cal DC L.L.C. | Delaware | 33-1080498 | ||
Asbury So Cal Hon L.L.C. | Delaware | 33-1080502 | ||
Asbury So Cal Niss L.L.C. | Delaware | 59-3781893 | ||
Asbury St. Louis Cadillac L.L.C. | Delaware | 43-1767192 | ||
Asbury St. Louis Gen L.L.C. | Delaware | 43-1826171 | ||
Asbury St. Louis Lex L.L.C. | Delaware | 43-1767192 | ||
Asbury Tampa Management L.L.C. | Delaware | 59-2512657 | ||
Asbury-Deland Imports L.L.C. | Delaware | 59-3604213 | ||
Atlanta Real Estate Holdings L.L.C. | Delaware | 58-2241119 | ||
Avenues Motors, Ltd. | Florida | 59-3381433 | ||
Bayway Financial Services, L.P. | Delaware | 59-3503190 | ||
BFP Motors L.L.C. | Delaware | 30-0217335 | ||
C&O Properties, Ltd. | Florida | 59-2495022 | ||
Camco Finance II L.L.C. | Delaware | 52-2106838 | ||
Camco Finance L.L.C. | Delaware | 56-2110955 | ||
CFP Motors, Ltd. | Florida | 65-0414571 | ||
CH Motors, Ltd. | Florida | 59-3185442 |
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Exact Name of Registrant Guarantor as Specified in its Charter(1) | State of Incorporation or Organization | I.R.S. Employer Identification Number | ||
CHO Partnership, Ltd. | Florida | 59-3041549 | ||
CK Chevrolet LLC | Delaware | 59-3580820 | ||
CK Motors LLC | Delaware | 59-3580825 | ||
CN Motors, Ltd. | Florida | 59-3185448 | ||
Coggin Automotive Corp. | Florida | 59-1285803 | ||
Coggin Cars L.L.C. | Delaware | 59-3624906 | ||
Coggin Chevrolet L.L.C. | Delaware | 59-3624905 | ||
Coggin Management, L.P. | Delaware | 59-3503191 | ||
CP-GMC Motors, Ltd. | Florida | 59-3185453 | ||
Crown Acura/Nissan, LLC | North Carolina | 56-1975265 | ||
Crown Battleground, LLC | North Carolina | 56-2036220 | ||
Crown CHH L.L.C. | Delaware | 52-2106838 | ||
Crown CHO L.L.C. | Delaware | 84-1617218 | ||
Crown CHV L.L.C. | Delaware | 52-2106838 | ||
Crown Dodge, LLC | North Carolina | 56-1975260 | ||
Crown FDO L.L.C. | Delaware | 04-3623132 | ||
Crown FFO Holdings L.L.C. | Delaware | 56-2182741 | ||
Crown FFO L.L.C. | Delaware | 56-2165412 | ||
Crown Fordham L.L.C. | Delaware | 52-2106838 | ||
Crown GAC L.L.C. | Delaware | 52-2106838 | ||
Crown GAU L.L.C. | Delaware | 52-2106838 | ||
Crown GBM L.L.C. | Delaware | 52-2106838 | ||
Crown GCA L.L.C. | Delaware | 14-1854150 | ||
Crown GCH L.L.C. | Delaware | 74-3051217 | ||
Crown GDO L.L.C. | Delaware | 52-2106838 | ||
Crown GHO L.L.C. | Delaware | 52-2106838 | ||
Crown GKI L.L.C. | Delaware | 52-2106838 |
5
Exact Name of Registrant Guarantor as Specified in its Charter(1) | State of Incorporation or Organization | I.R.S. Employer Identification Number | ||
Crown GMI L.L.C. | Delaware | 52-2106838 | ||
Crown GNI L.L.C. | Delaware | 52-2106838 | ||
Crown GPG L.L.C. | Delaware | 52-2106838 | ||
Crown GVO L.L.C. | Delaware | 52-2106838 | ||
Crown Honda, LLC | North Carolina | 56-1975264 | ||
Crown Honda-Volvo, LLC | North Carolina | 56-1975263 | ||
Crown Mitsubishi, LLC | North Carolina | 56-1975266 | ||
Crown Motorcar Company L.L.C. | Delaware | 62-1860414 | ||
Crown Raleigh L.L.C. | Delaware | 52-2106838 | ||
Crown RIA L.L.C. | Delaware | 52-2106838 | ||
Crown RIB L.L.C. | Delaware | 56-2125835 | ||
Crown Royal Pontiac, LLC | North Carolina | 56-1975262 | ||
Crown SJC L.L.C. | Delaware | 81-0630983 | ||
Crown SNI L.L.C. | Delaware | 30-0199361 | ||
CSA Imports L.L.C. | Delaware | 59-3631079 | ||
JC Dealer Systems L.L.C. | Delaware | 58-2628641 | ||
Escude-M L.L.C. | Delaware | 64-0922813 | ||
Escude-MO L.L.C. | Delaware | 64-0924573 | ||
Escude-NN L.L.C. | Delaware | 64-0922808 | ||
Escude-NS L.L.C. | Delaware | 64-0922811 | ||
Escude-T L.L.C. | Delaware | 64-0922812 | ||
HFP Motors L.L.C. | Delaware | 06-1631102 | ||
KP Motors L.L.C. | Delaware | 06-1629064 | ||
McDavid Austin-Acra, L.L.C. | Delaware | 11-3816170 | ||
McDavid Frisco-Hon, L.L.C. | Delaware | 11-3816176 | ||
McDavid Grande, L.L.C. | Delaware | 11-3816168 |
6
Exact Name of Registrant Guarantor as Specified in its Charter(1) | State of Incorporation or Organization | I.R.S. Employer Identification Number | ||
McDavid Houston-Hon, L.L.C. | Delaware | 11-3816178 | ||
McDavid Houston-Niss, L.L.C. | Delaware | 11-3816172 | ||
McDavid Irving-Hon, L.L.C. | Delaware | 11-3816175 | ||
McDavid Outfitters, L.L.C. | Delaware | 11-3816166 | ||
McDavid Plano-Acra, L.L.C. | Delaware | 11-3816179 | ||
NP FLM L.L.C. | Delaware | 71-0819724 | ||
NP MZD L.L.C. | Delaware | 71-0819723 | ||
NP VKW L.L.C. | Delaware | 71-0819721 | ||
Plano Lincoln-Mercury, Inc. | Delaware | 75-2430953 | ||
Precision Computer Services, Inc. | Florida | 59-2867725 | ||
Precision Enterprises Tampa, Inc. | Florida | 59-2148481 | ||
Precision Infiniti, Inc. | Florida | 59-2958651 | ||
Precision Motorcars, Inc. | Florida | 59-1197700 | ||
Precision Nissan, Inc. | Florida | 59-2734672 | ||
Premier NSN L.L.C. | Delaware | 71-0819715 | ||
Premier Pon L.L.C. | Delaware | 71-0819714 | ||
Prestige Bay L.L.C. | Delaware | 71-0819719 | ||
Prestige Toy L.L.C. | Delaware | 71-0819720 | ||
RER Properties, LLC | North Carolina | 56-2091165 | ||
RWIJ Properties, LLC | North Carolina | 56-2091158 | ||
Spectrum Insurance Services L.L.C. | Delaware | 58-2241119 | ||
Tampa Hund, L.P. | Delaware | 59-3512664 | ||
Tampa Kia, L.P. | Delaware | 59-3512666 | ||
Tampa LM, L.P. | Delaware | 52-2124362 |
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Exact Name of Registrant Guarantor as Specified in its Charter(1) | State of Incorporation or Organization | I.R.S. Employer Identification Number | ||
Tampa Mit, L.P. | Delaware | 59-3512667 | ||
Tampa Suzu, L.P. | Delaware | 59-3512668 | ||
Thomason Auto Credit Northwest, Inc. | Oregon | 93-1119211 | ||
Thomason Dam L.L.C. | Delaware | 93-1266231 | ||
Thomason Frd L.L.C. | Delaware | 93-1254703 | ||
Thomason Hon L.L.C. | Delaware | 93-1254717 | ||
Thomason Hund L.L.C. | Delaware | 93-1254690 | ||
Thomason Maz L.L.C. | Delaware | 93-1254723 | ||
Thomason Niss L.L.C. | Delaware | 93-1254721 | ||
Thomason Outfitters L.L.C. | Delaware | 68-0492340 | ||
Thomason Pontiac-GMC L.L.C. | Delaware | 43-1976952 | ||
Thomason Suzu L.L.C. | Delaware | 93-1256214 | ||
Thomason TY L.L.C. | Delaware | 93-1254719 | ||
Thomason Zuk L.L.C. | Delaware | 93-1254806 | ||
WMZ Brandon Motors, L.P. | Delaware | 59-3512670 | ||
WMZ Motors, L.P. | Delaware | 59-3512663 | ||
WTY Motors, L.P. | Delaware | 59-3512669 |
(1) The address and phone number of each Registrant Guarantor is c/o Asbury
Automotive Group, Inc., 622 Third Avenue, 37th Floor, New York, New York 10017,
(212) 885-2500.
3.00% Senior Subordinated Convertible Notes due 2012
(Title of the indenture securities)
8
| 1. | General information. Furnish the following information as to the Trustee: |
| (a) | Name and address of each examining or supervising authority to which it is subject. |
| Name | Address | |
| Superintendent of Banks of the State of New York | One State Street, New York, N.Y. 10004-1417, and Albany, N.Y. 12223 | |
| Federal Reserve Bank of New York | 33 Liberty Street, New York, N.Y. 10045 | |
| Federal Deposit Insurance Corporation | Washington, D.C. 20429 | |
| New York Clearing House Association | New York, New York 10005 | |
| (b) | Whether it is authorized to exercise corporate trust powers. |
Yes.
| 2. | Affiliations with Obligor. |
If the obligor is an affiliate of the trustee, describe each such affiliation.
None.
| 16. | List of Exhibits. |
Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 (the “Act”) and 17 C.F.R. 229.10(d).
| 1. | A copy of the Organization Certificate of The Bank of New York (formerly Irving Trust Company) as now in effect, which contains the authority to commence business and a grant of powers to exercise corporate trust powers. (Exhibit 1 to Amendment No. 1 to Form T-1 filed with Registration Statement No. 33-6215, Exhibits 1a and 1b to Form T-1 filed with Registration Statement No. 33-21672, Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121195.) |
| 4. | A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-121195.) |
9
| 6. | The consent of the Trustee required by Section 321(b) of the Act. (Exhibit 6 to Form T-1 filed with Registration Statement No. 333-106702.) |
| 7. | A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority. |
10
SIGNATURE
Pursuant to the requirements of the Act, the Trustee, The Bank of New York, a corporation organized and existing under the laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York, and State of New York, on the 27th day of June, 2007.
| THE BANK OF NEW YORK | ||
| By: | /S/ ROBERT A. MASSIMILLO | |
Name: ROBERT A. MASSIMILLO Title: VICE PRESIDENT | ||
11
EXHIBIT 7
Consolidated Report of Condition of
THE BANK OF NEW YORK
of One Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System, at the close of business March 31, 2007, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act.
| Dollar Amounts In Thousands | |||
ASSETS | |||
Cash and balances due from depository institutions: | |||
Noninterest-bearing balances and currency and coin | $ | 1,859,000 | |
Interest-bearing balances | 12,315,000 | ||
Securities: | |||
Held-to-maturity securities | 1,572,000 | ||
Available-for-sale securities | 20,948,000 | ||
Federal funds sold and securities purchased under agreements to resell: | |||
Federal funds sold in domestic offices | 491,000 | ||
Securities purchased under agreements to resell | 153,000 | ||
Loans and lease financing receivables: | |||
Loans and leases held for sale | 0 | ||
Loans and leases, net of unearned income | 31,479,000 | ||
LESS: Allowance for loan and lease losses | 289,000 | ||
Loans and leases, net of unearned income and allowance | 31,190,000 | ||
Trading assets | 3,171,000 | ||
Premises and fixed assets (including capitalized leases) | 844,000 | ||
Other real estate owned | 2,000 | ||
Investments in unconsolidated subsidiaries and associated companies | 340,000 | ||
Not applicable | |||
Intangible assets: | |||
Goodwill | 2,714,000 | ||
Other intangible assets | 966,000 | ||
Other assets | 7,043,000 | ||
Total assets | $ | 83,608,000 | |
LIABILITIES | |||
Deposits: | |||
In domestic offices | $ | 26,775,000 | |
Noninterest-bearing | 16,797,000 | ||
Interest-bearing | 9,978,000 | ||
In foreign offices, Edge and Agreement subsidiaries, and IBFs | 33,309,000 | ||
Noninterest-bearing | 702,000 | ||
Interest-bearing | 32,607,000 | ||
Federal funds purchased and securities sold under agreements to repurchase: | |||
Federal funds purchased in domestic offices | 712,000 | ||
Securities sold under agreements to repurchase | 129,000 | ||
Trading liabilities | 2,321,000 | ||
Other borrowed money: (includes mortgage indebtedness and obligations under capitalized leases) | 3,621,000 | ||
Not applicable | |||
Not applicable | |||
Subordinated notes and debentures | 2,255,000 | ||
Other liabilities | 5,933,000 | ||
Total liabilities | $ | 75,055,000 | |
Minority interest in consolidated subsidiaries | $ | 161,000 | |
EQUITY CAPITAL | |||
Perpetual preferred stock and related surplus | 0 | ||
Common stock | 1,135,000 | ||
Surplus (exclude all surplus related to preferred stock) | 2,143,000 | ||
Retained earnings | 5,430,000 | ||
Accumulated other comprehensive income | -316,000 | ||
Other equity capital components | 0 | ||
Total equity capital | 8,392,000 | ||
Total liabilities, minority interest, and equity capital | $ | 83,608,000 | |
I, Thomas P. Gibbons, Chief Financial Officer of the above-named bank do hereby declare that this Report of Condition is true and correct to the best of my knowledge and belief.
Thomas P. Gibbons,
Chief Financial Officer
We, the undersigned directors, attest to the correctness of this statement of resources and liabilities. We declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the instructions and is true and correct.
Thomas A. Renyi Gerald L. Hassell Catherine A. Rein | Directors |