Exhibit 25.1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
o | CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2) |
WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
| A National Banking Association (Jurisdiction of incorporation or organization if not a U.S. national bank) | 94-1347393 (I.R.S. Employer Identification No.) | |
101 North Phillips Avenue Sioux Falls, South Dakota (Address of principal executive offices) | 57104 (Zip code) |
Wells Fargo & Company
Law Department, Trust Section
MAC N9305-175
Sixth Street and Marquette Avenue, 17th Floor
Minneapolis, Minnesota 55479
(612) 667-4608
(Name, address and telephone number of agent for service)
SALLY HOLDINGS LLC1
SALLY CAPITAL INC.
(Exact name of obligor as specified in its charter)
| Delaware | 36-4472381 | |
| Delaware | 56-2620323 | |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
3001 Colorado Boulevard
Denton, Texas 76210
(Address of principal executive offices)
9.25% Senior Notes due 2014
10.5% Senior Subordinated Notes due 2016
(Title of the indenture securities)
1See Table 1—List of additional obligors
Table 1
| Exact Name of Additional Registrant as Specified in its Charter/Constituent Documents* | Jurisdiction of Incorporation | Federal EIN | ||
|---|---|---|---|---|
| Armstrong McCall Holdings, Inc. | Texas | 74-1499645 | ||
| Armstrong McCall Holdings, L.L.C. | Delaware | 74-2766844 | ||
| Armstrong McCall, L.P. | Texas | 74-2766845 | ||
| Armstrong McCall Management, L.C. | Texas | 74-2766842 | ||
| Arnolds, Inc. | Arkansas | 71-0007082 | ||
| Beauty Holding LLC | Delaware | 36-405 3597 | ||
| Beauty Systems Group LLC | Delaware | 36-4201155 | ||
| Beyond the Zone, Inc. | Delaware | 35-2180117 | ||
| Brentwood Beauty Laboratories International, Inc. | Texas | 74-1994945 | ||
| Coloresse, Inc. | Delaware | 20-5230193 | ||
| Design Lengths, Inc. | Delaware | 41-2239996 | ||
| Diorama Services Company, LLC | Delaware | 20-5230107 | ||
| Energy of Beauty, Inc. | Delaware | 20-2319441 | ||
| Esthetician Services, Inc. | Delaware | 36-4270982 | ||
| For Perms Only, Inc. | Delaware | 84-1617038 | ||
| High Intensity Products, Inc. | Delaware | 20-0129876 | ||
| Innovations—Successful Salon Services | California | 95-4251192 | ||
| Ion Professional Products, Inc. | Delaware | 36-3570397 | ||
| Lady Lynn Enterprises, Inc. | Delaware | 36-4027023 | ||
| Land of Dreams, Inc. | Delaware | 20-2709463 | ||
| Lome Beauty International, Inc. | Delaware | 36-4260404 | ||
| Miracle Lane, Inc. | Delaware | 20-2319484 | ||
| Modern Panache, Inc. | Delaware | 20-2709606 | ||
| Nail Life, Inc. | Delaware | 20-0129898 | ||
| Neka Salon Supply, Inc. | New Hampshire | 02-0347958 | ||
| New Image Professional Products, Inc. | Delaware | 36-4101842 | ||
| Power IQ, Inc. | Delaware | 41-2240000 | ||
| Procare Laboratories, Inc. | Delaware | 36-4294731 | ||
| Sally Beauty Distribution LLC | Delaware | 75-2624245 | ||
| Sally Beauty Distribution of Ohio, Inc. | Delaware | 36-4401725 | ||
| Sally Beauty International Finance LLC | Delaware | 75-2719403 | ||
| Sally Beauty Supply LLC | Delaware | 36-2683258 | ||
| Salon Success International LLC | Florida | 14-1819659 | ||
| Satin Strands, Inc. | Delaware | 20-5230137 | ||
| Sexy U Products, Inc. | Delaware | 20-0129827 | ||
| Silk Elements, Inc. | Delaware | 20-0129848 | ||
| Soren Enterprises, Inc. | Delaware | 41-2240003 | ||
| Tanwise, Inc. | Delaware | 20-2319525 | ||
| Venetian Blends, Inc. | Delaware | 20-5230165 |
*The address for each of the additional registrants is c/o Sally Holdings LLC, 3001 Colorado Boulevard, Denton, Texas 76210
Item 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.
Comptroller of the Currency
Treasury Department
Washington, D.C.Federal Deposit Insurance Corporation
Washington, D.C.Federal Reserve Bank of San Francisco
San Francisco, California 94120 - (b)
- Whether it is authorized to exercise corporate trust powers.
The trustee is authorized to exercise corporate trust powers.
Item 2.Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.
None with respect to the trustee.
No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.
Item 15.Foreign Trustee. Not applicable.
Item 16.List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.
| Exhibit 1. | A copy of the Articles of Association of the trustee now in effect.* | |
Exhibit 2. | A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.** | |
Exhibit 3. | See Exhibit 2 | |
Exhibit 4. | Copy of By-laws of the trustee as now in effect.*** | |
Exhibit 5. | Not applicable. | |
Exhibit 6. | The consent of the trustee required by Section 321(b) of the Act. | |
Exhibit 7. | A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority. | |
Exhibit 8. | Not applicable. | |
Exhibit 9. | Not applicable. |
- *
- Incorporated by reference to the exhibit of the same number to the trustee's Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of Hornbeck Offshore Services LLC file number 333-130784-06.
- **
- Incorporated by reference to the exhibit of the same number to the trustee's Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.
- ***
- Incorporated by reference to the exhibit of the same number to the trustee's Form T-1 filed as exhibit 25.1 to the Form S-4 dated May 26, 2005 of Penn National Gaming, Inc. file number 333-125274.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Middletown and State of Connecticut on the 20th day of June 2007.
WELLS FARGO BANK, NATIONAL ASSOCIATION | ||
/s/ JOSEPH P. O'DONNELL Joseph P. O'Donnell Vice President |
EXHIBIT 6
June 20, 2007
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.
Very truly yours, | ||
WELLS FARGO BANK, NATIONAL ASSOCIATION | ||
/s/ JOSEPH P. O'DONNELL Joseph P. O'Donnell Vice President |
EXHIBIT 7
Consolidated Report of Condition of
Wells Fargo Bank National Association
of 101 North Phillips Avenue, Sioux Falls, SD 57104
And Foreign and Domestic Subsidiaries,
at the close of business March 31, 2007, filed in accordance with 12 U.S.C. §161 for National Banks.
| | | Dollar Amounts In Millions | |||||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Cash and balances due from depository institutions: | |||||||
| Noninterest-bearing balances and currency and coin | $ | 12,467 | |||||
| Interest-bearing balances | 1,280 | ||||||
| Securities: | |||||||
| Held-to-maturity securities | 0 | ||||||
| Available-for-sale securities | 40,238 | ||||||
| Federal funds sold and securities purchased under agreements to resell: | |||||||
| Federal funds sold in domestic offices | 6,195 | ||||||
| Securities purchased under agreements to resell | 1,187 | ||||||
| Loans and lease financing receivables: | |||||||
| Loans and leases held for sale | 33,093 | ||||||
| Loans and leases, net of unearned income | 251,321 | ||||||
| LESS: Allowance for loan and lease losses | 2,151 | ||||||
| Loans and leases, net of unearned income and allowance | 249,170 | ||||||
| Trading Assets | 3,665 | ||||||
| Premises and fixed assets (including capitalized leases) | 4,173 | ||||||
| Other real estate owned | 657 | ||||||
| Investments in unconsolidated subsidiaries and associated companies | 392 | ||||||
| Intangible assets | |||||||
| Goodwill | 8,994 | ||||||
| Other intangible assets | 18,668 | ||||||
| Other assets | 16,668 | ||||||
| Total assets | $ | 396,847 | |||||
LIABILITIES | |||||||
| Deposits: | |||||||
| In domestic offices | $ | 269,773 | |||||
| Noninterest-bearing | 75,101 | ||||||
| Interest-bearing | 194,672 | ||||||
| In foreign offices, Edge and Agreement subsidiaries, and IBFs | 43,580 | ||||||
| Noninterest-bearing | 6 | ||||||
| Interest-bearing | 43,574 | ||||||
| Federal funds purchased and securities sold under agreements to repurchase: | |||||||
| Federal funds purchased in domestic offices | 3,911 | ||||||
| Securities sold under agreements to repurchase | 6,114 | ||||||
| Trading liabilities | 2,328 | ||||||
| Other borrowed money | |||||||
| (includes mortgage indebtedness and obligations under capitalized leases) | 6,914 | ||||||
| Subordinated notes and debentures | 10,148 | ||||||
| Other liabilities | 14,055 | ||||||
| Total liabilities | $ | 356,823 | |||||
Minority interest in consolidated subsidiaries | 58 | ||||||
EQUITY CAPITAL | 0 | ||||||
| Perpetual preferred stock and related surplus | |||||||
| Common stock | 520 | ||||||
| Surplus (exclude all surplus related to preferred stock) | 24,751 | ||||||
| Retained earnings | 14,239 | ||||||
| Accumulated other comprehensive income | 456 | ||||||
| Other equity capital components | 0 | ||||||
| Total equity capital | 39,966 | ||||||
| Total liabilities, minority interest, and equity capital | $ | 396,847 | |||||
I, Karen B. Nelson, Vice President of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.
| Karen B. Nelson Vice President |
We, the undersigned directors, attest to the correctness of this Report of Condition and 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 issued by the appropriate Federal regulatory authority and is true and correct.
| Michael Loughlin | ||
| John Stumpf Carrie Tolstedt | Directors |