132
FORM T-1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SEC File # 22-
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Statement of Eligibility and Qualification Under the
Trust Indenture Act of 1939, as Amended, of a Corporation
Designated to Act as Trustee
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FIRST VALLEY BANK
(An Affiliate of Summit Bancorp)
(Exact Name of Trustee as Specified in Its Charter)
Pennsylvania 24-0525884
(State of Incorporation (I.R.S. Employer
if not a National Bank) Identification No.)
100 Brodhead Rd.
Newpointe Office Center
Bethlehem, Pennsylvania 18017
(610)-865-8459
(Address of Principal Executive Offices) (Zip Code)
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EQUIPMENT LEASING CORPORATION OF AMERICA
(Exact Name of Obligor as Specified in Its Charter)
Delaware 23-2408914
(State of Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)
Suite 76, 501 Silverside Road
Wilmington, Delaware 19809
(Address of Principal Executive Officer) (Zip Code)
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DEMAND AND FIXED RATE CERTIFICATES
(Title of the Indenture Securities)
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133
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.
FEDERAL DEPOSIT INSURANCE CORPORATION
452 Fifth Avenue
New York, NY 10018
PENNSYLVANIA DEPARTMENT OF BANKING
333 Market Street
16th Floor
Harrisburg, PA 17101-2290
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
2. AFFILIATIONS WITH THE OBLIGOR. If the obligor is an affiliate of the
trustee, describe each such affiliation.
No such affiliation exists.
3. VOTING SECURITIES OF THE TRUSTEE. Furnish the following information as to
each class of voting securities of the trustee:
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As of March 15, 1996
Col. A Col. B
Title of Class Amount Outstanding
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Common Stock All Held by Summit Bancorp
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4. TRUSTEESHIPS UNDER OTHER INDENTURES. If the trustee is a trustee under
another indenture under which any other securities, or certificates of
interest or participation in any other securities, of the obligor are
outstanding, furnish the following information:
(a) Title of the securities outstanding under each such other indenture.
None
(b) A brief statement of the facts relied upon as a basis for the claim
that no conflicting interest within the meaning of Section 310(b)(1)
of the Act arises as a result of the trusteeship under any such other
indenture, including a statement as to how the indenture securities
will rank as compared with the securities used under such other
indenture.
Not Applicable
5. INTERLOCKING DIRECTORATES AND SIMILAR RELATIONSHIPS WITH THE OBLIGOR OR
UNDERWRITERS. If the trustee or any of the directors or executive officers
of the trustee is a director, officer, partner, employee, appointee, or
representative of the obligor, identify each such person having any such
connection and state the nature of each such connection.
None.
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6. VOTING SECURITIES OF THE TRUSTEE OWNED BY THE OBLIGOR OR ITS OFFICIALS.
Furnish the following information as to the voting securities of the
trustee owned beneficially by the obligor and each director, partner and
executive officer of the obligor.
As of March 15, 1996
Col. A Col. B Col. C Col. D
Name of Title Amount Owned Percentage of Voting
Owner of Class Beneficially Securities Represented
by Amount Given in Col. C
------- -------- ------------ -------------------------
None
7. VOTING SECURITIES OF THE TRUSTEE OWNED BY UNDERWRITERS OR THEIR OFFICIALS.
Furnish the following information as to the voting securities of the
trustee owned beneficially by each underwriter for the obligor and each
director, partner and executive officer of each such underwriter.
As of March 15, 1996
Col. A Col. B Col. C Col. D
Name of Title Amount Owned Percentage of Voting
Owner of Class Beneficially Securities Represented
by Amount Given in Col. C
------- -------- ------------ -------------------------
None
8. SECURITIES OF THE OBLIGOR OWNED OR HELD BY THE TRUSTEE. Furnish the
following information as to securities of the obligor owned beneficially or
held as collateral security for obligations in default by the trustee:
As of March 15, 1996
Col. A Col. B Col. C Col. D
Title of Whether the Amount Owned Percent of
Class Securities Beneficially or Held Class Represented
are Voting as Collateral Security by Amount Given
or Nonvoting for Obligations in Col. C
Securities in Default
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None
9. SECURITIES OF UNDERWRITERS OWNED OR HELD BY THE TRUSTEE. If the trustee
owns beneficially, or holds as collateral security for obligations in
default any securities of an underwriter for the obligor, furnish the
following information as to each class of securities of such underwriter
any of which as so owned or held by the trustee.
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As of March 15, 1996
Col. A Col. B Col. C Col. D
Title of Amount Amount Owned Beneficially Percent of
Issuer and Outstanding or Held as Collateral Class Represented
Title of Security for Obligations by Amount Given
Class in Default by Trustee in Col. C
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None
10. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF VOTING SECURITIES OF CERTAIN
AFFILIATES OR SECURITY HOLDERS OF THE OBLIGOR. If the trustee owns
beneficially or holds as collateral security for obligations in default
voting securities of a person who, to the knowledge of the trustee (1) owns
10% or more of the voting securities of the obligor or (2) is an affiliate,
other than a subsidiary, of the obligor, furnish the following information
as to the voting securities of such person.
As of March 15, 1996
Col. A Col. B Col. C Col. D
Title of Amount Amount Owned Beneficially Percent of
Issuer and Outstanding or Held as Collateral Class Represented
Title of Security for Obligations by Amount Given
Class in Default by Trustee in Col. C
---------- ----------- ------------------------- -----------------
None
11. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF ANY SECURITIES OF A PERSON OWNING
50% OR MORE OF THE VOTING SECURITIES OF THE OBLIGOR. If the trustee owns
beneficially or holds as collateral security for obligations in default any
securities of a person who, to the knowledge of the trustee, owns, 50% or
more of the voting securities of the obligor, furnish the following
information as to each class of securities of such person any of which are
so owned or held by the trustee.
As of March 15, 1996
Col. A Col. B Col. C Col. D
Title of Amount Amount Owned Beneficially Percent of
Issuer and Outstanding or Held as Collateral Class Represented
Title of Security for Obligations by Amount Given
Class in Default by Trustee in Col. C
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None
12. INDEBTEDNESS OF THE OBLIGOR TO THE TRUSTEE. If the obligor is indebted to
the trustee, furnish the following information.
Col. A. Col. B Col. C.
Nature of Amount Date
Indebtedness Outstanding Due
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None
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13. DEFAULTS BY THE OBLIGOR
a) State whether there is or has been a default with respect to the
securities under this indenture. Explain the nature of any such
default.
None
b) If the trustee is a trustee under another indenture under which any
other securities, or certificates of interest or participation in any
other securities, of the obligor are outstanding, or is trustee for more
than one outstanding series of securities under the indenture, state
whether there has been a default under any such indenture or series,
identity the indenture or series affected, and explain the nature of any
such default.
None.
14. AFFILIATIONS WITH THE UNDERWRITERS. If any underwriter is an affiliate of
the trustee, describe each such affiliation.
None
15. FOREIGN TRUSTEE. Identify the order or rule pursuant to which the foreign
trustee is authorized to act as sole trustee under indentures qualified or
to be qualified under the Act.
Inapplicable
16. LIST OF EXHIBITS. List below all exhibits filed as a part of this
statement of eligibility and qualification. Exhibits identified in
parenthesis, on file with the Commission, are incorporated herein by
reference as exhibits hereto.
1. Articles of Association and By-laws of First Valley Bank. Filed as
Exhibit 12(1) to Form T-1, Registration #22-19569, Filed July 10, 1989.
2. Certificate of Incorporation of First Valley Bank. (Filed as Exhibit
12(2) to Form T-1, Registration #22-19569, Filed July 10, 1989).
3. Authorization of the trustee to exercise corporate trust powers. (Filed
as Exhibit 12(3) to Form T-1, Registration #22-19569, Filed July 10,
1989).
4. By-Laws of Trustee. Filed as Exhibit 12(4) to Form T-1, Registration
#22-19569, Filed July 10, 1989.
5. There are no indentures referred to in Item 4.
6. Consents of the Trustee under Section 321(b) of the Trust Indenture Act.
"P" 7. A copy of the latest report of condition of First Valley Bank as of
December 31, 1995, published pursuant to law or the requirements of its
supervising or examining authority. (Attached hereto).
8. Inapplicable
9. Inapplicable
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as Amended,
the trustee, First Valley Bank, a state banking association organized under the
Laws of the Commonwealth of Pennsylvania, has duly caused this statement of
eligibility and qualification to be signed on its behalf by the undersigned,
thereunto duly authorized, all in the City of Bethlehem, State of Pennsylvania,
on the 12th day of April, 1996.
FIRST VALLEY BANK
/s/ Richard D. Rein
By:------------------------
Richard D. Rein
Senior Vice President
138
Securities and Exchange Commission
Washington, D.C. 20549
RE: First Valley Bank, Trustee (An Affiliate of Summit Bancorp)
Equipment Leasing Corporation of America
Trust Indenture under SEC File No. 333-
________________________________________________________________
Gentlemen:
Pursuant to Section 321 (b) of the Trust Indenture Act of 1939, as Amended,
we consent that reports of examinations by Federal, State, Territorial of
District authorities may be furnished by such authorities to the Commission
upon request therefor.
FIRST VALLEY BANK
Dated: April 12, 1996 /s/ Richard D. Rein
By:---------------------------
Richard D. Rein
Title: Senior Vice President