Exhibit 25.1
FORM T-1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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
(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.)
One Wall Street, New York, N.Y. 10286
(Address of principal executive offices) (Zip code)
Resolution Performance Products LLC
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(Exact name of obligor as specified in its charter)
Delaware 76-0607613
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
RPP Capital Corporation
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(Exact name of obligor as specified in its charter)
Delaware 76-0660306
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
1600 Smith Street, Suite 2416 Houston, Texas 77002
(Address of principal executive offices) (Zip code)
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13 1/2% Senior Subordinated Notes due 2010
(Title of the indenture securities)
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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.
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Name Address
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Superintendent of Banks of the 2 Rector Street,
State of New York New York, N.Y. 10006, and
Albany, N.Y. 12203
Federal Reserve Bank of New York 33 Liberty Plaza,
New York, N.Y. 10045
Federal Deposit Insurance Corporation Washington, D.C. 20429
New York Clearing House Association New York, New York 10005
(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
Rule 7a-29 under the Trust Indenture Act of 1939 and rule 24 of the
Commission's Rules of Practice. 1. A copy of the Organization
Certificate of The Bank of New York (formerly Irving Trust Company) as
now in effect,
1. 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, Exhibits 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.)
4. A copy of the existing By-laws of the Trustee. (Exhibit 4 to
Form T-1 filed with Registration Statement No. 33-31019.)
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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 to the requirements of its
supervising or examining authority.
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, all in
The City of New York, and State of New York, on the 6th day of January 2003.
THE BANK OF NEW YORK
By: /s/Cynthia Chaney
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Cynthia Chaney
Vice President
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EXHIBIT 7
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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 September 30,
2002, 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 ........ $ 3,735,469
Interest-bearing balances ................................. 3,791,026
Securities:
Held-to-maturity securities ............................... 1,140,688
Available-for-sale securities ............................. 15,232,384
Federal funds sold in domestic offices ....................... 1,286,657
Securities purchased under agreements to resell .............. 1,035,718
Loans and lease financing receivables:
Loans and leases held for sale ............................ 869,285
Loans and leases, net of unearned
income34,695,130
LESS: Allowance for loan and
lease losses645,382
Loans and leases, net of unearned
income and allowance .................................... 34,049,748
Trading Assets ............................................... 9,044,881
Premises and fixed assets (including capitalized
leases) ................................................... 823,722
Other real estate owned ...................................... 778
Investments in unconsolidated subsidiaries and
associated companies ...................................... 226,274
Customers' liability to this bank on acceptances
outstanding ............................................... 249,803
Intangible assets
Goodwill .................................................. 1,852,232
Other intangible assets ................................... 54,714
Other assets ................................................. 4,961,572
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Total assets ................................................. $ 78,354,951
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LIABILITIES
Deposits:
In domestic offices ....................................... $ 32,962,289
Noninterest-bearing ....................................... 12,792,415
Interest-bearing .......................................... 20,169,874
In foreign offices, Edge and Agreement
subsidiaries, and IBFs .................................. 24,148,516
Noninterest-bearing ....................................... 445,725
Interest-bearing .......................................... 23,702,791
Federal funds purchased in domestic
offices .................................................... 959,287
Securities sold under agreements to repurchase ............... 491,806
Trading liabilities .......................................... 2,916,377
Other borrowed money:
(includes mortgage indebtedness and obligations
under capitalized leases) ................................. 1,691,634
Bank's liability on acceptances executed and
outstanding ............................................... 251,701
Subordinated notes and debentures ............................ 2,090,000
Other liabilities ............................................ 5,815,688
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Total liabilities ............................................ $ 71,327,298
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Minority interest in consolidated subsidiaries ............... 500,019
EQUITY CAPITAL
Perpetual preferred stock and related
surplus ................................................... 0
Common stock ................................................. 1,135,284
Surplus ...................................................... 1,056,724
Retained earnings ............................................ 4,218,003
Accumulated other comprehensive income ....................... (117,623)
Other equity capital components .............................. 0
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Total equity capital ......................................... 6,527,634
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Total liabilities minority interest and equity capital ....... $ 78,354,951
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I, Thomas J. Mastro, Senior 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,
Senior 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.
Thomas A. Renyi }
Gerald L. Hassell } Directors
Alan R. Griffith }
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