EX-25.1 5 dex251.htm FORM T-1 FORM T-1

Exhibit 25.1

 


UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


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) ¨

 


U.S. BANK NATIONAL ASSOCIATION

(Exact name of Trustee as specified in its charter)

31-0841368

(I.R.S. Employer Identification No.)

 

800 Nicollet Mall

Minneapolis, Minnesota

  55402
(Address of principal executive offices)   (Zip Code)

U.S. Bank National Association

Michael C. Daly

200 South Biscayne Blvd. Suite 1870

Miami, FL 33131

(305) 350-1738

(Name, address and telephone number of agent for service)

 


SBA COMMUNICATIONS CORPORATION

(Exact name of obligor as specified in its charter)

 

Florida   65-0716501

(State or other jurisdiction

of incorporation or organization)

  (I.R.S. Employer Identification No.)

 

5900 Broken Sound Parkway N.W.

Boca Raton, FL

  33487
(Address of principal executive offices)   (Zip Code)

0.375% Convertible Senior Notes due 2010

(Title of the indenture securities)

 



FORM T-1

 

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.

 

  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, 2006 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.

 


* Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005.


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 to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of St. Paul, and State of Minnesota on the 16th day of May, 2007.

 

   

U.S. BANK NATIONAL ASSOCIATION

   

By:

 

/s/ Michael C. Daly

      Michael C. Daly
      Vice President
   

By:

 

/s/ Timothy P. Miller

      Timothy P. Miller
      Trust Officer


Exhibit 6

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: May 16, 2007

 

U.S. BANK NATIONAL ASSOCIATION

By:

 

/s/ Michael C. Daly

  Michael C. Daly
  Vice President

By:

 

/s/ Timothy P. Miller

  Timothy P. Miller
  Trust Officer


Exhibit 7

U.S. Bank National Association

Statement of Financial Condition

As of 12/31/2006

($000’s)

 

     12/31/2006

Assets

  

Cash and Due From Depository Institutions

   $ 8,644,951

Securities

     39,699,269

Federal Funds

     3,512,083

Loans & Lease Financing Receivables

     141,159,825

Fixed Assets

     2,300,043

Intangible Assets

     12,048,875

Other Assets

     10,437,280
      

Total Assets

   $ 217,802,326

Liabilities

  

Deposits

   $ 135,903,121

Fed Funds

     12,316,778

Treasury Demand Notes

     0

Trading Liabilities

     139,984

Other Borrowed Money

     33,217,524

Acceptances

     0

Subordinated Notes and Debentures

     7,384,026

Other Liabilities

     6,677,926
      

Total Liabilities

   $ 195,639,359

Equity

  

Minority Interest in Subsidiaries

   $ 1,544,842

Common and Preferred Stock

     18,200

Surplus

     11,976,937

Undivided Profits

     8,622,988
      

Total Equity Capital

   $ 22,162,967

Total Liabilities and Equity Capital

   $ 217,802,326

 


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/ Timothy P. Miller

  Trust Officer

Date: May 16, 2007