Exhibit 25.2
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORMT-1
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 MELLON
TRUST COMPANY, N.A.
(Exact name of trustee as specified in its charter)
| 95-3571558 | ||
(Jurisdiction of incorporation if not a U.S. national bank) | (I.R.S. employer identification no.) | |
400 South Hope Street Suite 500 Los Angeles, California | 90071 | |
| (Address of principal executive offices) | (Zip code) | |
Marriott Ownership Resorts, Inc.
(Exact name of obligor as specified in its charter)
| Delaware | 52-1320904 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. employer identification no.) |
ILG, LLC
(Exact name of obligor as specified in its charter)
| Delaware | 26-2590997 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. employer identification no.) |
TABLE OF ADDITIONAL REGISTRANT GUARANTORS
| Exact Name of Additional Registrant Guarantor as Specified in Its Charter | Jurisdiction of Incorporation or Organization | I.R.S. Employer Number | ||
Marriott Vacations Worldwide Corporation | Delaware | 45-2598330 | ||
Aqua Hospitality LLC | Delaware | 46-0641767 | ||
Aqua Hotels & Resorts, LLC | Hawaii | 65-1163911 | ||
Aqua Hotels and Resorts Operator LLC | Delaware | 37-1697816 | ||
Aqua Hotels and Resorts, Inc. | Delaware | 26-3181909 | ||
Aqua Luana Operator LLC | Hawaii | 90-1028216 | ||
Aqua-Aston Holdings, Inc. | Delaware | 87-0799653 | ||
Aqua-Aston Hospitality, LLC | Hawaii | 13-4207830 | ||
Aston Hotels & Resorts Florida, LLC | Florida | 46-3267551 | ||
Beach House Development Partnership | Florida | 65-0680991 | ||
CDP GP, Inc. | Delaware | 36-4190833 | ||
CDP Investors, L.P. | Delaware | 36-4158822 | ||
Cerromar Development Partners GP, Inc. | Delaware | 36-4158824 | ||
Cerromar Development Partners, L.P., S.E. | Delaware | 36-4158825 | ||
Coconut Plantation Partner, Inc. | Florida | 81-2972199 | ||
Data Marketing Associates East, Inc. | Florida | 59-3531162 | ||
Diamond Head Management LLC | Hawaii | 45-2996891 | ||
Flex Collection, LLC | Florida | 82-0679134 | ||
FOH Holdings, LLC | Delaware | None | ||
FOH Hospitality, LLC | Delaware | 68-0509641 | ||
Grand Aspen Holdings, LLC | Delaware | 95-4837613 |
- 2 -
| Exact Name of Additional Registrant Guarantor as Specified in Its Charter | Jurisdiction of Incorporation or Organization | I.R.S. Employer Number | ||
Grand Aspen Lodging, LLC | Delaware | 84-1589465 | ||
Hawaii Vacation Title Services, Inc. | Hawaii | 20-0773633 | ||
Hotel Management Services LLC | Hawaii | 27-0562444 | ||
HPC Developer, LLC | Delaware | 81-5385696 | ||
HT-Highlands, Inc. | Delaware | 36-3978574 | ||
HTS-BC, L.L.C. | Delaware | 36-3296881 | ||
HTS-Beach House Partner, L.L.C. | Delaware | 38-3973709 | ||
HTS-Beach House, Inc. | Delaware | 36-4097668 | ||
HTS-Coconut Point, Inc. | Delaware | 36-4262309 | ||
HTS-Ground Lake Tahoe, Inc. | Delaware | 36-4197178 | ||
HTS-Key West, Inc. | Delaware | 36-3942758 | ||
HTS-KW, Inc. | Delaware | 36-4187262 | ||
HTS-Lake Tahoe, Inc. | Delaware | 36-3919669 | ||
HTS-Loan Servicing, Inc. | Delaware | 36-4206919 | ||
HTS-Main Street Station, Inc. | Delaware | 36-4351998 | ||
HTS-Maui, L.L.C. | Delaware | 45-5601104 | ||
HTS-San Antonio, Inc. | Delaware | 45-0479517 | ||
HTS-San Antonio, L.L.C. | Delaware | 61-1731501 | ||
HTS-San Antonio, L.P. | Delaware | 32-0018843 | ||
HTS-Sedona, Inc. | Delaware | 36-4290387 | ||
HTS-Sunset Harbor Partner, L.L.C. | Delaware | 47-3952343 | ||
HTS-Windward Pointe Partner, L.L.C. | Delaware | 47-3932767 | ||
HV Global Group, Inc. | Delaware | 36-3878044 |
- 3 -
| Exact Name of Additional Registrant Guarantor as Specified in Its Charter | Jurisdiction of Incorporation or Organization | I.R.S. Employer Number | ||
HV Global Management Corporation | Delaware | 36-3950778 | ||
HV Global Marketing Corporation | Florida | 65-0459735 | ||
HVO Key West Holdings, LLC | Florida | 47-5257462 | ||
IIC Holdings, Incorporated | Delaware | 36-4197698 | ||
ILG Management, LLC | Florida | 90-0968929 | ||
ILG Shared Ownership, Inc. | Delaware | 61-1846364 | ||
Interval Acquisition Corp. | Delaware | 36-4189885 | ||
Interval Holdings, Inc. | Delaware | 06-1428126 | ||
Interval International, Inc. | Florida | 59-2367254 | ||
Interval Resort & Financial Services, Inc. | Florida | 65-0614258 | ||
Interval Software Services, LLC | Florida | 65-1133709 | ||
Kai Management Services LLC | Hawaii | 26-4613508 | ||
Kauai Blue, Inc. | Delaware | 20-0406855 | ||
Kauai Lagoons Holdings LLC | Delaware | 20-3620899 | ||
Key Wester Limited | Florida | 36-4204734 | ||
Lagunamar Cancun Mexico, Inc. | Florida | 20-2286494 | ||
Management Acquisition Holdings, LLC | Delaware | 27-3967875 | ||
Marriott Kauai Ownership Resorts, Inc. | Delaware | 52-1881454 | ||
Marriott Ownership Resorts Procurement, LLC | Delaware | 52-2262337 | ||
Marriott Resorts Hospitality Corporation | South Carolina | 57-0715279 | ||
Marriott Resorts Sales Company, Inc. | Delaware | 52-1682534 | ||
Maui Condo and Home, LLC | Hawaii | 99-0266391 | ||
MH Kapalua Venture, LLC | Delaware | 33-1099097 |
- 4 -
| Exact Name of Additional Registrant Guarantor as Specified in Its Charter | Jurisdiction of Incorporation or Organization | I.R.S. Employer Number | ||
MORI Golf (Kauai), LLC | Delaware | 26-0341137 | ||
MORI Member (Kauai), LLC | Delaware | 20-3524073 | ||
MORI Residences, Inc. | Delaware | 52-2066724 | ||
MORI Waikoloa Holding Company, LLC | Delaware | 81-2251748 | ||
MTSC, Inc. | Delaware | 52-2323185 | ||
MVW of Hawaii, Inc. | Delaware | 47-3155848 | ||
MVW SSC, Inc. | Delaware | 46-4698277 | ||
MVW US Holdings, Inc. | Delaware | 45-2756557 | ||
MVW US Services, LLC | Delaware | 46-4710314 | ||
Pelican Landing Timeshare Ventures Limited Partnership | Delaware | 36-4351657 | ||
R.C. Chronicle Building, L.P. | Delaware | 20-2098782 | ||
RBF, LLC | Delaware | 65-1086178 | ||
RCC (GP) Holdings LLC | Delaware | 36-4615537 | ||
RCC (LP) Holdings L.P. | Delaware | 37-1548471 | ||
RCDC 942, L.L.C. | Delaware | 27-0842972 | ||
RCDC Chronicle LLC | Delaware | 83-0490828 | ||
REP Holdings, Ltd. | Hawaii | 99-0335453 | ||
Resort Management Finance Services, Inc. | Florida | 45-2346663 | ||
Resort Sales Services, Inc. | Delaware | 38-3990004 | ||
RQI Holdings, LLC | Hawaii | 03-0530842 | ||
S.O.I. Acquisition Corp. | Florida | 61-1731501 | ||
Scottsdale Residence Club, Inc. | Florida | 20-5899344 |
- 5 -
| Exact Name of Additional Registrant Guarantor as Specified in Its Charter | Jurisdiction of Incorporation or Organization | I.R.S. Employer Number | ||
Sheraton Flex Vacations, LLC | Florida | 47-2210419 | ||
St. Regis New York Management, Inc. | Florida | 20-3808613 | ||
St. Regis Residence Club, New York Inc. | Florida | 20-3081304 | ||
The Cobalt Travel Company, LLC | Delaware | 52-2171053 | ||
The Lion & Crown Travel Co., LLC | Delaware | 26-3644512 | ||
The Ritz-Carlton Development Company, Inc. | Delaware | 52-2168235 | ||
The Ritz-Carlton Management Company, L.L.C. | Delaware | 51-0397808 | ||
The Ritz-Carlton Sales Company, Inc. | Delaware | 52-2182206 | ||
The Ritz-Carlton Title Company, Inc. | Delaware | 52-2182207 | ||
Vacation Ownership Lending GP, Inc. | Delaware | 36-4190833 | ||
Vacation Ownership Lending, L.P. | Delaware | 36-4190846 | ||
Vacation Title Services, Inc. | Florida | 59-3543344 | ||
VCH Communications, Inc. | Florida | 59-3087363 | ||
VCH Consulting, Inc. | Florida | 59-3259779 | ||
VCH Systems, Inc. | Florida | 65-0534423 | ||
Vistana Acceptance Corp. | Florida | 59-3304480 | ||
Vistana Aventuras, Inc. | Florida | 81-3970560 | ||
Vistana Development, Inc. | Florida | 59-3075838 | ||
Vistana Hawaii Management, Inc. | Hawaii | 99-0353557 | ||
Vistana Management, Inc. | Florida | 59-3087359 | ||
Vistana MB Management, Inc. | South Carolina | 59-3445868 | ||
Vistana Portfolio Services, Inc. | Florida | 59-3384912 |
- 6 -
| Exact Name of Additional Registrant Guarantor as Specified in Its Charter | Jurisdiction of Incorporation or Organization | I.R.S. Employer Number | ||
Vistana PSL, Inc. | Florida | 59-3466205 | ||
Vistana Residential Management, Inc. | Florida | 59-3384873 | ||
Vistana Signature Experiences, Inc. | Delaware | 47-4235905 | ||
Vistana Signature Network, Inc. | Delaware | 91-1805536 | ||
Vistana Vacation Ownership, Inc. | Florida | 06-1558234 | ||
Vistana Vacation Realty, Inc. | Florida | 03-0469903 | ||
Vistana Vacation Services Hawaii, Inc. | Hawaii | 99-0354234 | ||
VOL GP, Inc. | Delaware | 36-4190834 | ||
VOL Investors, L.P. | Delaware | 36-4190836 | ||
Volt Merger Sub, LLC | Delaware | None | ||
VSE Development, Inc. | Florida | 26-1267681 | ||
VSE East, Inc. | Florida | 59-3475882 | ||
VSE Mexico Portfolio Services, Inc. | Florida | 20-3057270 | ||
VSE Myrtle Beach, LLC | South Carolina | 59-3425941 | ||
VSE Pacific, Inc. | Florida | 59-3646594 | ||
VSE Trademark, Inc. | Florida | 59-3088550 | ||
VSE Vistana Villages, Inc. | Florida | 59-3525948 | ||
VSE West, Inc. | Florida | 59-3462185 | ||
Westin Sheraton Vacation Services, Inc. | Florida | 59-3455889 | ||
Windward Pointe II, L.L.C. | Delaware | 36-4453636 | ||
Worldwide Vacation & Travel, Inc. | Florida | 22-2362974 | ||
WVC Rancho Mirage, Inc. | Delaware | 91-1822046 |
- 7 -
c/o Marriott Vacations Worldwide Corporation 6649 Westwood Blvd. Orlando, Florida | 32821 | |
| (Address of principal executive offices) | (Zip code) |
5.625% Senior Notes due 2023
6.500% Senior Notes due 2026
Guarantees of 5.625% Senior Notes due 2023
Guarantees of 6.500% Senior Notes due 2026
(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 | |
Comptroller of the Currency United States Department of the Treasury | Washington, DC 20219 | |
Federal Reserve Bank | San Francisco, CA 94105 | |
Federal Deposit Insurance Corporation | Washington, DC 20429 | |
| (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 Rule7a-29 under the Trust Indenture Act of 1939 (the “Act”) and 17 C.F.R. 229.10(d).
| 1. | A copy of the articles of association of The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A. (Exhibit 1 to FormT-1 filed with Registration StatementNo. 333-121948 and Exhibit 1 to FormT-1 filed with Registration StatementNo. 333-152875). |
| 2. | A copy of certificate of authority of the trustee to commence business. (Exhibit 2 to FormT-1 filed with Registration StatementNo.333-121948). |
| 3. | A copy of the authorization of the trustee to exercise corporate trust powers (Exhibit 3 to FormT-1 filed with Registration StatementNo.333-152875). |
- 9 -
| 4. | A copy of the existingby-laws of the trustee (Exhibit 4 to FormT-1 filed with Registration StatementNo. 333-229762). |
| 6. | The consent of the trustee required by Section 321(b) of the Act (Exhibit 6 to FormT-1 filed with Registration StatementNo. 333-152875). |
| 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 Mellon Trust Company, N.A., a 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 Los Angeles, and State of California, on the 3rd day of May, 2019.
| THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. | ||||
| By: | /s/ Manjari Purkayastha | |||
| Name: | Manjari Purkayastha | |||
| Title: | Vice President | |||
- 11 -
EXHIBIT 7
Consolidated Report of Condition of
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
of 400 South Hope Street, Suite 500, Los Angeles, CA 90071
At the close of business December 31, 2018, published in accordance with Federal regulatory authority instructions.
| Dollar amounts in thousands | ||||
ASSETS | ||||
Cash and balances due from depository institutions: | ||||
Noninterest-bearing balances and currency and coin | 2,374 | |||
Interest-bearing balances | 124,178 | |||
Securities: | ||||
Held-to-maturity securities | 0 | |||
Available-for-sale securities | 198,413 | |||
Equity securities with readily determinable fair values not held for trading | NR | |||
Federal funds sold and securities purchased under agreements to resell: | ||||
Federal funds sold | 0 | |||
Securities purchased under agreements to resell | 0 | |||
Loans and lease financing receivables: | ||||
Loans and leases held for sale | 0 | |||
Loans and leases, held for investment | 0 | |||
LESS: Allowance for loan and lease losses | 0 | |||
Loans and leases held for investment, net of allowance | 0 | |||
Trading assets | 0 | |||
Premises and fixed assets (including capitalized leases) | 9,069 | |||
Other real estate owned | 0 | |||
Investments in unconsolidated subsidiaries and associated companies | 0 | |||
Direct and indirect investments in real estate ventures | 0 | |||
Intangible assets | 859,682 | |||
Other assets | 136,256 | |||
|
| |||
Total assets | $ | 1,329,972 | ||
|
| |||
- 12 -
| Dollar amounts in thousands | ||||
LIABILITIES | ||||
Deposits: | ||||
In domestic offices | 2,677 | |||
Noninterest-bearing | 2,677 | |||
Interest-bearing | 0 | |||
Not applicable | ||||
Federal funds purchased and securities sold under agreements to repurchase: | ||||
Federal funds purchased | 0 | |||
Securities sold under agreements to repurchase | 0 | |||
Trading liabilities | 0 | |||
Other borrowed money: | ||||
(includes mortgage indebtedness and obligations under capitalized leases) | 0 | |||
Not applicable | ||||
Not applicable | ||||
Subordinated notes and debentures | 0 | |||
Other liabilities | 226,786 | |||
Total liabilities | 229,463 | |||
Not applicable | ||||
EQUITY CAPITAL | ||||
Perpetual preferred stock and related surplus | 0 | |||
Common stock | 1,000 | |||
Surplus (exclude all surplus related to preferred stock) | 323,516 | |||
Not available | ||||
Retained earnings | 777,089 | |||
Accumulated other comprehensive income | -1,096 | |||
Other equity capital components | 0 | |||
Not available | ||||
Total bank equity capital | 1,100,509 | |||
Noncontrolling (minority) interests in consolidated subsidiaries | 0 | |||
Total equity capital | 1,100,509 | |||
|
| |||
Total liabilities and equity capital | 1,329,972 | |||
|
| |||
I, Matthew J. McNulty, CFO of the above-named bank do hereby declare that the Reports of Condition and Income (including the supporting schedules) for this report date have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true to the best of my knowledge and belief.
Matthew J. McNulty ) CFO
We, the undersigned directors (trustees), attest to the correctness of the Report of Condition (including the supporting schedules) for this report date 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.
Antonio I. Portuondo, President ) | ||
Michael P. Scott, Managing Director ) | Directors (Trustees) | |
Kevin P. Caffrey, Managing Director ) |
- 13 -