EXHIBIT 25.1
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM T-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)
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U.S. BANK NATIONAL ASSOCIATION
(Exact name of Trustee as specified in its charter)
31-0841368
I.R.S. Employer Identification No.
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180 East Fifth Street 55101
St. Paul, Minnesota
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(Address of principal executive offices) (Zip Code)
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Michael M. Hopkins
U.S. Bank National Association
225 Asylum Street
Hartford, CT 06103
860-241-6820
(Name, address and telephone number of agent for service)
GFSI, INC
(Issuer with respect to the Securities)
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Delaware 74-2810748
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(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
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9700 Commerce Parkway 66219
Lenexa, Kansas
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Address of Principal Executive Offices) (Zip Code)
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9 5/8% Series B Senior Subordinate Notes due 2007
(Title of the Indenture Securities)
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FORM T-1
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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
Washington, D.C.
b) Whether it is authorized to exercise corporate trust powers.
Yes
Item 2. AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of
the Trustee, describe each such affiliation.
None
Items 3-15 Items 3-15 are not applicable because to the best of
the Trustee's knowledge, the obligor is not in default
under any Indenture for which the Trustee acts as
Trustee.
Item 16. LIST OF EXHIBITS: List below all exhibits filed as a part of
this statement of eligibility and qualification.
1. A copy of the Articles of Association of the Trustee.*
2. A copy of the certificate of authority of the Trustee to
commence business.*
3. A copy of the certificate of authority of the Trustee to
exercise corporate trust powers.*
4. A copy of the existing bylaws of the Trustee.*
5. A copy of each Indenture referred to in Item 4. Not
applicable.
6. The consent of the Trustee required by Section 321(b) of
the Trust Indenture Act of 1939, attached as Exhibit 6.
7. Report of Condition of the Trustee as of December 31,
2002, published pursuant to law or the requirements of
its supervising or examining authority, attached as
Exhibit 7.
* Incorporated by reference to Registration Number 333-67188.
NOTE
The answers to this statement insofar as such answers relate to what
persons have been underwriters for any securities of the obligors within three
years prior to the date of filing this statement, or what persons are owners
of 10% or more of the voting securities of the obligors, or affiliates, are
based upon information furnished to the Trustee by the obligors. While the
Trustee has no reason to doubt the accuracy of any such information, it cannot
accept any responsibility therefor.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as
amended, the Trustee, U.S. 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 and qualification to be
signed on its behalf by the undersigned, thereunto duly authorized, all in the
City of Hartford, State of Connecticut on the 10th day of March, 2003.
U.S. BANK NATIONAL ASSOCIATION
By: /s/ Michael M. Hopkins
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Michael M. Hopkins
Vice President
By: /s/ Elizabeth C. Hammer
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Elizabeth C. Hammer
Vice President
Exhibit 6
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CONSENT
In accordance with Section 321(b) of the Trust Indenture Act of 1939, the
undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of
examination of the undersigned by Federal, State, Territorial or District
authorities may be furnished by such authorities to the Securities and
Exchange Commission upon its request therefor.
Dated: March 10, 2003
U.S. BANK NATIONAL ASSOCIATION
By: /s/ Michael M. Hopkins
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Michael M. Hopkins
Vice President
By: /s/ Elizabeth C. Hammer
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Elizabeth C. Hammer
Vice President
Exhibit 7
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U.S. Bank National Association
Statement of Financial Condition
As of 12/31/2002
($000's)
12/31/2002
Assets ----------
Cash and Due From Depository Institutions $10,868,204
Federal Reserve Stock 0
Securities 28,139,801
Federal Funds 873,395
Loans & Lease Financing Receivables 116,078,132
Fixed Assets 1,389,233
Intangible Assets 9,218,064
Other Assets 9,482,963
Total Assets ---------------
$176,049,792
Liabilities
Deposits $121,684,914
Fed Funds 5,858,510
Treasury Demand Notes 0
Trading Liabilities 402,464
Other Borrowed Money 17,397,658
Acceptances 148,979
Subordinated Notes and Debentures 5,696,532
Other Liabilities 5,200,399
Total Liabilities ---------------
$156,389,456
Equity
Minority Interest in Subsidiaries $992,867
Common and Preferred Stock 18,200
Surplus 11,314,669
Undivided Profits 7,334,600
Total Equity Capital ---------------
$19,660,336
Total Liabilities and Equity Capital $176,049,792
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To the best of the undersigned's determination, as of the date hereof, the
above financial information is true and correct.
U.S. Bank National Association
By: /s/ Frank P. Leslie III
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Vice President
Date: March 10, 2003