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EXHIBIT 25.1
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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) [__]
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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 U.S. national bank) identification no.)
One Wall Street, New York, N.Y. 10286
(Address of principal executive offices) (Zip code)
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CEX HOLDINGS, INC.
(Exact name of obligor as specified in its charter)
Colorado 84-1347853
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
CORPORATE EXPRESS, INC.
(Exact name of obligor as specified in its charter)
Colorado 84-0978360
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
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Table of Additional Registrants
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ASAP Software Express, Inc. Illinois 36-3328437
Corporate Express Callcenter
Services, Inc. Delaware 22-8292338
Sofco, Inc. New York 14-1550996
SQP, Inc. New York 14-1680132
Sofco of Ohio, Inc. New York 34-1690942
S&O Property, Inc. New York 14-1499350
Epco Packaging Services Delaware 04-2989953
Hermann Marketing, Inc. Missouri 43-1540873
Distribution Resources Co. Colorado 84-1015452
Corporate Express Real Estate, Inc. Delaware 84-1326952
Corporate Express of the East, Inc. Delaware 84-1248716
Corporate Express of Texas, Inc. Delaware 74-1926921
Federal Sales Services, Inc. Virginia 54-1000288
Virginia Impressions Products
Co., Inc. Virginia 54-0619020
Micromagnetic Systems, Inc. Virginia 54-1092699
Corporate Express Delivery
Systems, Inc. Delaware 76-0424426
American Delivery System, Inc. Michigan 38-2523356
Corporate Express Distribution
Services, Inc. Michigan 38-1889687
New Delaware Delivery, Inc. Delaware 51-0366092
Red Arrow Corporation Missouri 43-0678384
RAC, Inc. Missouri 43-1389320
Red Arrow Spotting Services, Inc. Missouri 43-1622097
Red Arrow Trucking Co. Missouri 43-1335313
Red Arrow Warehousing, Co. Missouri 43-1344561
Rush Trucking, Inc. Illinois 43-1409469
Corporate Express Delivery Systems-
Intermountain, Inc. Delaware 86-0809519
Corporate Express Delivery Leasing-
Intermountain, Inc. Delaware 86-0808518
Corporate Express Delivery Systems-
Mid-Atlantic, Inc. Delaware 52-1951978
Corporate Express Delivery Leasing-
Mid-Atlantic, Inc. Delaware 52-1951974
Corporate Express Delivery Systems-
Mid-West, Inc. Delaware 36-4054055
Corporate Express Delivery Leasing-
Mid-West, Inc. Delaware 36-4054057
Corporate Express Delivery Systems-
New England, Inc. Delaware 06-1441914
Corporate Express Delivery Leasing-
New England, Inc. Delaware 06-1441911
Corporate Express Delivery Systems-
Northeast, Inc. Delaware 11-3295386
Corporate Express Delivery Leasing-
Northeast, Inc. Delaware 11-3295385
Corporate Express Delivery Systems-
Southeast, Inc. Delaware 56-1949066
Corporate Express Delivery Leasing-
Southeast, Inc. Delaware 56-1949063
Air Courier Dispatch of New Jersey,
Inc. Minnesota 22-3096947
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Sunbelt Courier, Inc. Arkansas 71-0684115
Tricor America, Inc. California 94-2593523
Midnite Express International
Courier, Inc. California 95-3796228
Corporate Express Delivery Systems-
Southwest, Inc. Delaware 76-0486734
Corporate Express Delivery Leasing-
Southwest, Inc. Delaware 76-0486733
Corporate Express Delivery Systems-
West Coast, Inc. Delaware 95-4560129
Corporate Express Delivery Leasing-
West Coast, Inc. Delaware 95-4556544
Corporate Express Delivery System-
Expedited, Inc. Delaware 74-2854132
Corporate Express Delivery Leasing-
Expedited, Inc. Delaware 76-0555266
Corporate Express Delivery
Administration, Inc. Nevada 76-0465269
Corporate Express Delivery
Management Business Trust Delaware 51-0363269
Corporate Express Delivery
Systems-Air Division, Inc. Delaware 76-0566357
One Environmental Way
Broomfield, Colorado 80021
(Address of principal executive offices) (Zip code)
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9-5/8% Series B Senior Subordinated
Notes due 2008
(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 State of 2 Rector Street, 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 (THE "ACT") AND 17
C.F.R. 229.10(d).
1. A copy of the Organization Certificate of 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, 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.)
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.
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SIGNATURE
Pursuant to the requirements of the Act, 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 21st day of July, 1998.
THE BANK OF NEW YORK
By: /s/ REMO J. REALE
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Name: REMO J. REALE
Title: ASSISTANT VICE PRESIDENT
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EXHIBIT 7
Consolidated Report of Condition of
THE BANK OF NEW YORK
of 48 Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System, at the close of business March 31, 1998,
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 depos-
itory institutions:
Noninterest-bearing balances and
currency and coin .................... $ 6,397,993
Interest-bearing balances ............. 1,138,362
Securities:
Held-to-maturity securities ........... 1,062,074
Available-for-sale securities ......... 4,167,240
Federal funds sold and Securities pur-
chased under agreements to resell...... 391,650
Loans and lease financing
receivables:
Loans and leases, net of unearned
income .............................. 36,538,242
LESS: Allowance for loan and
lease losses ........................ 631,725
LESS: Allocated transfer risk
reserve.............................. 0
Loans and leases, net of unearned
income, allowance, and reserve....... 35,906,517
Assets held in trading accounts ......... 2,145,149
Premises and fixed assets (including
capitalized leases) ................... 663,928
Other real estate owned ................. 10,895
Investments in unconsolidated
subsidiaries and associated
companies ............................. 237,991
Customers' liability to this bank on
acceptances outstanding ............... 992,747
Intangible assets ....................... 1,072,517
Other assets ............................ 1,643,173
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Total assets ............................ $55,830,236
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LIABILITIES
Deposits:
In domestic offices ................... $24,849,054
Noninterest-bearing ................... 10,011,422
Interest-bearing ...................... 14,837,632
In foreign offices, Edge and
Agreement subsidiaries, and IBFs .... 15,319,002
Noninterest-bearing ................... 707,820
Interest-bearing ...................... 14,611,182
Federal funds purchased and Securities
sold under agreements to repurchase.... 1,906,066
Demand notes issued to the U.S.
Treasury .............................. 215,985
Trading liabilities ..................... 1,591,288
Other borrowed money:
With remaining maturity of one year
or less ............................. 1,991,119
With remaining maturity of more than
one year through three years......... 0
With remaining maturity of more than
three years ......................... 25,574
Bank's liability on acceptances exe-
cuted and outstanding ................. 998,145
Subordinated notes and debentures ....... 1,314,000
Other liabilities ....................... 2,421,281
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Total liabilities ....................... 50,631,514
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EQUITY CAPITAL
Common stock ............................ 1,135,284
Surplus ................................. 731,319
Undivided profits and capital
reserves .............................. 3,328,050
Net unrealized holding gains
(losses) on available-for-sale
securities ............................ 40,198
Cumulative foreign currency transla-
tion adjustments ...................... (36,129)
Total equity capital .................... -----------
Total liabilities and equity
capital ............................... 5,198,722
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$55,830,236
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I, Robert E. Keilman, Senior Vice President and Comptroller of the
above-named bank do hereby declare that this Report of Condition has been
prepared in conformance with the instructions issued by the Board of Governors
of the Federal Reserve System and is true to the best of my knowledge and
belief.
Robert E. Keilman
We, the undersigned directors, attest to the correctness of this Report of
Condition 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 Board of Governors of the Federal Reserve System and is true and
correct.
Thomas A. Renyi ]
Alan R. Griffith ] Directors
J. Carter Bacot ]