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EXHIBIT 25.1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY AND QUALIFICATION 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. TRUST COMPANY OF TEXAS, N.A.
(Exact name of trustee as specified in its charter)
75-2353745
(State of incorporation (I.R.S. employer
if not a national bank) identification No.)
2001 Ross Ave, Suite 2700 75201
Dallas, Texas (Zip Code)
(Address of trustee's
principal executive offices)
Compliance Officer
U.S. Trust Company of Texas, N.A.
2001 Ross Ave, Suite 2700
Dallas, Texas 75201
(214) 754-1200
(Name, address and telephone number of agent for service)
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Chandler (U.S.A.), Inc.
(Exact name of obligor as specified in its charter)
Oklahoma 73-1325906
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
1010 Manvel Avenue
Chandler, Oklahoma 74834
(Address of principal executive offices) (Zip Code)
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__% Senior Debentures due 2014
(Title of the indenture securities)
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GENERAL
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 Reserve Bank of Dallas (11th District), Dallas, Texas
(Board of Governors of the Federal Reserve System)
Federal Deposit Insurance Corporation, Dallas, Texas
The Office of the Comptroller of the Currency, Dallas, Texas
(b) Whether it is authorized to exercise corporate trust powers.
The Trustee is authorized to exercise corporate trust powers.
2. AFFILIATIONS WITH OBLIGOR AND UNDERWRITERS.
If the obligor or any underwriter for the obligor is an affiliate of
the Trustee, describe each such affiliation.
None.
3. VOTING SECURITIES OF THE TRUSTEE.
Furnish the following information as to each class of voting securities
of the Trustee:
As of April 12, 1999
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Col A. Col B.
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Title of Class Amount Outstanding
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Capital Stock - par value $100 per share 5,000 shares
4. TRUSTEESHIPS UNDER OTHER INDENTURES.
Not Applicable
5. INTERLOCKING DIRECTORATES AND SIMILAR RELATIONSHIPS WITH THE OBLIGOR OR
UNDERWRITERS.
Not Applicable
6. VOTING SECURITIES OF THE TRUSTEE OWNED BY THE OBLIGOR OR ITS OFFICIALS.
Not Applicable
7. VOTING SECURITIES OF THE TRUSTEE OWNED BY UNDERWRITERS OR THEIR
OFFICIALS.
Not Applicable
8. SECURITIES OF THE OBLIGOR OWNED OR HELD BY THE TRUSTEE.
Not Applicable
9. SECURITIES OF UNDERWRITERS OWNED OR HELD BY THE TRUSTEE.
Not Applicable
10. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF VOTING SECURITIES OF CERTAIN
AFFILIATES OR SECURITY HOLDERS OF THE OBLIGOR.
Not Applicable
11. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF ANY SECURITIES OF A PERSON
OWNING 50 PERCENT OR MORE OF THE VOTING SECURITIES OF THE OBLIGOR.
Not Applicable
12. INDEBTEDNESS OF THE OBLIGOR TO THE TRUSTEE.
Not Applicable
13. DEFAULTS BY THE OBLIGOR.
Not Applicable
14. AFFILIATIONS WITH THE UNDERWRITERS.
Not Applicable
15. FOREIGN TRUSTEE.
Not Applicable
16. LIST OF EXHIBITS.
T-1.1 - A copy of the Articles of Association of U.S. Trust
Company of Texas, N.A.; incorporated herein by reference
to Exhibit T-1.1 filed with Form T-1 Statement,
Registration No. 22-21897.
16. (con't.)
T-1.2 - A copy of the certificate of authority of the Trustee to
commence business; incorporated herein by reference to
Exhibit T-1.2 filed with Form T-1 Statement, Registration
No. 22-21897.
T-1.3 - A copy of the authorization of the Trustee to exercise
corporate trust powers; incorporated herein by reference
to Exhibit T-1.3 filed with Form T-1 Statement,
Registration No. 22-21897.
T-1.4 - A copy of the By-laws of the U.S. Trust Company of
Texas, N.A., as amended to date; incorporated herein by
reference to Exhibit T-1.4 filed with Form T-1 Statement,
Registration No. 22-21897.
T-1.6 - The consent of the Trustee required by Section 321(b) of
the Trust Indenture Act of 1939.
T-1.7 - A copy of the latest report of condition of the Trustee
published pursuant to law or the requirements of its
supervising or examining authority.
NOTE
As of April 12, 1999, the Trustee had 5,000 shares of Capital Stock outstanding,
all of which are owned by U.S. T.L.P.O. Corp. As of April 12, 1999, U.S.
T.L.P.O. Corp. had 35 shares of Capital Stock outstanding, all of which are
owned by U.S. Trust Corporation. U.S. Trust Corporation had outstanding
18,594,551 shares of $5 par value Common Stock as of April 12, 1999.
The term "Trustee" in Items 2, 5, 6, 7, 8, 9, 10 and 11 refers to each of U.S
Trust Company of Texas, N.A., U.S. T.L.P.O. Corp. and U.S. Trust Corporation.
In as much as this Form T-1 is filed prior to the ascertainment by the Trustee
of all the facts on which to base responsive answers to Items 2, 5, 6, 7, 9, 10
and 11, the answers to said Items are based upon incomplete information. Items
2, 5, 6, 7, 9, 10 and 11 may, however, be considered correct unless amended by
an amendment to this Form T-1.
In answering any items in this Statement of Eligibility and Qualification which
relates to matters peculiarly within the knowledge of the obligors or their
directors or officers, or an underwriter for the obligors, the Trustee has
relied upon information furnished to it by the obligors and will rely on
information to be furnished by the obligors or such underwriter, and the Trustee
disclaims responsibility for the accuracy or completeness of such information.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939 the Trustee, U.S
Trust Company of Texas, N.A., a national banking association organized 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 Dallas, and State of Texas on the
12th day of April, 1999.
U.S. Trust Company
of Texas, N.A., Trustee
By: /s/ Melissa Scott
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Melissa Scott
Vice President
Exhibit T-1.6
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust Indenture Act of
1939 as amended in connection with the proposed issue of Chandler (U.S.A.),
Inc., Senior Debentures, we hereby consent that reports of examination by
Federal, State, Territorial or District authorities may be furnished by such
authorities to the Securities and Exchange Commission upon request therefore.
U.S. Trust Company of Texas, N.A.
By: /s/ Melissa Scott
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Melissa Scott
Vice President
Exhibit T-1.7
Board of Governors of the Federal Reserve System
OMB Number: 7100-0036
Federal Deposit Insurance Corporation
OMB Number: 3064-005
Office of the Comptroller of the Currency
Federal Financial Institutions Examination Council OMB Number: 1557-0081
Expires March 31, 2001
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(1)
Please Refer to Page I,
(LOGO) Table of Contents, for
the required disclosure
of estimated burden.
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CONSOLIDATED REPORTS OF CONDITION
AND INCOME FOR A BANK WITH DOMESTIC
OFFICES ONLY AND TOTAL ASSETS OF LESS
THAN $100 MILLION - - FFIEC 033
REPORT AT THE CLOSE OF BUSINESS SEPTEMBER 30, 1998 (19980630)
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(RCRI 9999)
This report is required by law: 12 U.S.C. Section 324
(State member banks); 12 U.S.C. Section 1817 (State
nonmember banks); and 12 U.S.C. Section 161 This report form is to be filed by banks with
(National banks). domestic offices only. Banks with branches and
consolidated subsidiaries in U.S. territories and
possessions, Edge or Agreement subsidiaries, foreign
branches, consolidated foreign subsidiaries, or
International Banking Facilities must file FFIEC 031.
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NOTE: The Reports of Condition and Income must be The Reports of Condition and Income are to be
signed by an authorized officer and the Report of prepared in accordance with Federal regulatory
Condition must be attested to by not less than two authority instructions. NOTE: these instructions may
directors (trustees) for State nonmember banks and in some cases differ from generally accepted
three directors for State member and National Banks. accounting principles.
We, the undersigned directors (trustees), attest to
I, Alfred B. Childs, Svp & Cashier the correctness of this Report of Condition
--------------------------------- (including the supporting schedules) and declare
Name and Title of Officer Authorized to that it has been examined by us and to the best of
Sign Report our knowledge and belief has been prepared in
conformance with the instructions issued by the
appropriate Federal regulatory authority and is true
and correct.
of the named bank do hereby declare that these
Reports of Condition and Income (including the
supporting schedules) have been prepared in
conformance with the instructions issued by the
appropriate Federal regulatory authority and are
true to the best of my knowledge and belief. /s/ William Goodwin
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Director (Trustee)
/s/ Alfred B. Childs /s/ Stuart M. Pearman
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Signature of Officer Authorized to Sign Report Director (Trustee)
October 21, 1998 /s/ J. T. Moore, Jr.
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Date of Signature Director (Trustee)
SUBMISSION OF REPORTS
Each bank must prepare its Reports of Condition and For electronic filing assistance, contact EDS Call
Income either: Report Services, 2150 North Prospect Avenue,
Milwaukee, WI 53202, telephone (800) 255-1571.
in electronic form and then file the computer data
file directly with the banking agencies'
collection agent, Electronic Data Systems To fulfill the signature and attestation requirement
Corporation (EDS), by modem or on computer for the Reports of Condition and Income for this
diskette; or report date, attach this signature page to the
in hard-copy (paper) form and arrange for another hard-copy record of the completed report that the
party to convert the paper report to electronic bank places in its files.
form. That party (if other than EDS) must
transmit the bank's computer data file to EDS.
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FDIC Certificate Number 33217 Us Trust Company of Texas, National Association
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(RCRI 9050) Legal Title of Bank (TEXT 9010)
Dallas
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City (TEXT 9130)
TX 75201
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State Abbrev. (TEXT 9200) Zip Code. (TEXT 9220)
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, FEDERAL DEPOSIT INSURANCE
CORPORATION, OFFICE OF THE COMPTROLLER OF THE CURRENCY
Call Date: 09/30/98 State #: 48-6797 FFIEC 033
U.S. TRUST COMPANY OF TEXAS, N.A. Vendor ID: D Cert #: 33217 RC-1
2001 ROSS AVENUE, SUITE 2700 Transit #: 11101765
DALLAS, TX 75201
9
CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL
AND STATE-CHARTERED SAVINGS BANKS FOR SEPTEMBER 30, 1998
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, report the amount outstanding as of the last business day of the
quarter.
SCHEDULE RC - BALANCE SHEET
C200
DOLLAR AMOUNTS IN THOUSANDS
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ASSETS
1. Cash and balances due from depository institutions: RCON
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a. Noninterest-bearing balances and currency and coin (1,2) ............. 0081 956 1.a
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b. Interest bearing balances (3) ........................................ 0071 1,375 1.b
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2. Securities:
a. Held-to-maturity securities (from Schedule RC-B, column A) ........... 1754 0 2.a
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b. Available-for-sale securities (from Schedule RC-B, column D) ......... 1773 117,282 2.b
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3. Federal funds sold (4) and securities purchased under agreements to resell: 1350 5,000 3
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4. Loans and lease financing receivables: RCON
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a. Loans and leases, net of unearned income (from Schedule RC-C) ........ 2122 20,749 4.a
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b. LESS: Allowance for loan and lease losses ........................... 3123 230 4.b
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c. LESS: Allocated transfer risk reserve ............................... 3128 0 4.c
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RCON 21,252
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d. Loans and leases, net of unearned income, allowance, and reserve
(item 4.a minus 4.b and 4.c) ........................................ 2125 4.d
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5. Trading assets ........................................................... 3545 0 5.
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6. Premises and fixed assets (including capitalized leases) ................. 2145 669 6.
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7. Other real estate owned (from Schedule RC-M) ............................. 2150 0 7.
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8. Investments in unconsolidated subsidiaries and associated companies
(from Schedule RC-M) ..................................................... 2130 0 8.
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9. Customers' liability to this bank on acceptances outstanding ............. 2155 0 9.
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10. Intangible assets (from Schedule RC-M) ................................... 2143 0 10.
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11. Other assets (from Schedule RC-F) ........................................ 2160 1,921 11.
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12. Total assets (sum of items 1 through 11) ................................. 2170 148,455 12.
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(1) Includes cash items in process of collection and unposted debits.
(2) Included time certificates of deposit not held for trading.
Call Date: 09/30/98 State #: 48-6797 FFIEC 033
U.S. TRUST COMPANY OF TEXAS, N.A. Vendor ID: D Cert #: 33217 RC-2
2001 ROSS AVENUE, SUITE 2700 Transit #: 11101765
DALLAS, TX 75201
10
SCHEDULE RC - CONTINUED
DOLLAR AMOUNTS IN THOUSANDS
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LIABILITIES
13. Deposits:
RCON
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a. In domestic offices (sum of totals of
columns A and C from Schedule RC-E) ................................. RCON 2200 119,853 13.a
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(1) Noninterest-bearing (1) ........................................ 6631 10,673 13.a.1
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(2) Interest-bearing ............................................... 6636 109,180 13.a.2
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b. In foreign offices, Edge and Agreement subsidiaries, and IBFs
(1) Noninterest-bearing ............................................
(2) Interest-bearing ...............................................
14. Federal funds purchased(2) and securities sold under agreements
to repurchase: RCON 0 14
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2800
15. a. Demand notes issued to the U.S. Treasury ............................. 2840 0 15.a
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b. Trading liabilities .................................................. 3548 0 15.b
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16. Other borrowed money:
a. With a remaining maturity of one year or less ........................ 2332 1,000 16.a
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b. With a remaining maturity of more than one year through three
years .................................................................... A547 2,000 16.b
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c. With a remaining maturity of more than three years .................... A548 1,000 16.c
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17. Not applicable
18. Bank's liability on acceptances executed and outstanding ................. 2920 0 18.
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19. Subordinated notes and debentures ........................................ 3200 0 19.
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20. Other liabilities (from Schedule RC-G) ................................... 2930 2,493 20.
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21. Total liabilities (sum of items 13 through 20) ........................... 2948 126,346 21.
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22. Not applicable
EQUITY CAPITAL
RCON 7,000 23.
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23. Perpetual preferred stock and related surplus ............................ 3838
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24. Common stock ............................................................. 3230 500 24.
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25. Surplus (exclude all surplus related to preferred stock) ................. 3839 8,384 25.
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26. a. Undivided profits and capital reserves ............................... 3632 5,261 26.a
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b. Net unrealized holding gains (losses) on available-for-sale
securities ............................................................... 8434 964 26.b
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27. Cumulative foreign currency translation
adjustments ..............................................................
28. Total equity capital (sum of items 23 through 27) ........................ 3210 22,109 28.
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29. Total liabilities and equity capital (sum of items 21 and 28) ............ 2257 148,455 29.
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MEMORANDUM
TO BE REPORTED ONLY WITH THE MARCH REPORT OF CONDITION. NUMBER
1. Indicate in the box at the right the number of the statement below that best describes the most
comprehensive level of auditing work performed for the bank by independent external auditors as
of any date during 1997 6724 N/A M.1
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1 = Independent audit of the bank conducted in accordance 4 = Directors' examination of the bank performed by other
with generally accepted auditing standards by certified external auditors (may be required by state chartering
public accounting firm which submits a report on the bank authority)
2 = Independent audit of the bank's parent holding company 5 = Review of the bank's financial statements by external
conducted in accordance with generally accepted auditing auditors
standards by a certified public accounting firm which 6 = Compilation of the bank's financial statements by
submits a report on the consolidated holding company (but external auditors
not on the bank separately) 7 = Other audit procedures (excluding tax preparation
3 = Directors' examination of the bank conducted in accordance work)
with generally accepted auditing standards by a certified 8 = No external audit work
public accounting firm (may be required by state chartering
authority)
(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.
(2) Includes limited-life preferred stock and related surplus.