Exhibit 25.1
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
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CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF
A TRUSTEE PURSUANT TO SECTION 305(b)(2)
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THE BANK OF NEW YORK
(Exact name of trustee as specified in its charter)
New York 13-5160382
(State of incorporation (I.R.S. employer
if not a national bank) identification No.)
1 Wall Street 10286
New York, New York (Zip Code)
(Address of principal executive offices)
Michael Shepherd
General Counsel
One Wall Street
15th Floor
New York, New York 10286
Tel: 212 635-6748
(Name, address and telephone number of agent for service)
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GRANITE MASTER ISSUER PLC
(Exact name of obligor as specified in its charter)
England and Wales (I.R.S. employer
(State or other jurisdiction of identification No.)
incorporation or organization)
Fifth Floor, 100 Wood Street
London EC2V 7EX
011-44-20-7606 5451
(Address of principal executive offices) (Zip Code)
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Issues from time to time of Class A, Class B, Class M, Class C and Class D Notes
(Title of the indenture securities)
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GENERAL
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.
Superintendent of Banks of the State of New York, 2 Rector Street,
New York, New York 10006 and Albany, New York, 12203.
Federal Reserve Bank of New York, District No. 2, 33 Liberty
Plaza, New York, New York, 10045
Federal Deposit Insurance Corporation, Washington, D.C., 20429.
New York Clearing House AssociationNew York, New York 10005
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
Item 2. Affiliations with the Obligor.
If the obligor is an affiliate of the trustee, describe each such
affiliation.
None.
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Item 16. List of Exhibits
List below all exhibits filed as a part of this Statement of
Eligibility.
Exhibits identified in parantheses 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 Trustee (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, Exhibit 1a and 1b to
Form T-1 filed with Registration Statement No. 33-21672 and
Exhibit 1 to Form T-1 filed with Registration Statement No.
33-29637)
2. None; Certificate of Authority being contained in the
documents identified above as Exhibit 1.
3. None, authorization to exercise corporate trust powers being
contained in the documents identified above as Exhibit 1.
4. A copy of the existing By-Laws of the Trustee. (Exhibit 4 to
Form T-1 filed with Registration Statement No. 33-31019)
5. Not applicable.
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. 33-44051)
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.
8. Not applicable.
9. Not applicable.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, 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 in
the City of London in the United Kingdom, on the 20th March, 2006.
THE BANK OF NEW YORK
By: /s/ Karl Burgess
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Exhibit 7 to Form T-1
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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 December 31,
2005, 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
ASSETS In Thousands
Cash and balances due from depository
institutions:
Noninterest-bearing balances and currency
and coin......................................... $3,361,000
Interest-bearing balances........................ 7,528,000
Securities:
Held-to-maturity securities........................ 1,977,000
Available-for-sale securities...................... 22,664,000
Federal funds sold and securities purchased
under agreements to resell
Federal funds sold in domestic offices............. 809,000
Securities purchased under agreements to
resell............................................. 309,000
Loans and lease financing receivables:
Loans and leases held for sale..................... 0
Loans and leases, net of unearned
income........................................... 33,263,000
LESS: Allowance for loan and
lease losses..................................... 408,000
Loans and leases, net of unearned
income and allowance............................. 32,855,000
Trading assets....................................... 5,625,000
Premises and fixed assets (including capitalized
leases)............................................ 821,000
Other real estate owned.............................. 0
Investments in unconsolidated subsidiaries and
associated companies............................... 283,000
Customers' liability to this bank on acceptances
outstanding........................................ 117,000
Intangible assets:
Goodwill........................................... 2,138,000
Other intangible assets............................ 764,000
Other assets......................................... 6,617,000
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Total assets......................................... $85,868,000
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LIABILITIES
Deposits:
In domestic offices................................ $38,100,000
Noninterest-bearing................................ 18,123,000
Interest-bearing................................... 19,977,000
In foreign offices, Edge and Agreement
subsidiaries, and IBFs........................... 27,218,000
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Noninterest-bearing................................ 383,000
Interest-bearing................................... 26,835,000
Federal funds purchased and securities sold under
agreements to repurchase
Federal funds purchased in domestic
offices.......................................... 844,000
Securities sold under agreements to
repurchase....................................... 118,000
Trading liabilities.................................. 2,555,000
Other borrowed money:
(includes mortgage indebtedness and obligations
under capitalized leases).......................... 1,327,000
Not applicable
Bank's liability on acceptances executed and
outstanding........................................ 119,000
Subordinated notes and debentures.................... 1,955,000
Other liabilities.................................... 5,119,000
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Total liabilities.................................... $77,355,000
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Minority interest in consolidated
subsidiaries....................................... 139,000
EQUITY CAPITAL
Perpetual preferred stock and related
surplus............................................ 0
Common stock......................................... 1,135,000
Surplus (exclude all surplus related to preferred
stock)............................................. 2,097,000
Retained earnings.................................... 5,256,000
Accumulated other comprehensive income............... -114,000
Other equity capital components...................... 0
Total equity capital................................. 8,374,000
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Total liabilities, minority interest, and equity
capital............................................ $85,868,000
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I, Thomas J. Mastro, Executive Vice President and Comptroller 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 J. Mastro,
Executive Vice President and Comptroller
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.
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Thomas A. Renyi |
Gerald L. Hassell | Directors
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