EX-25 55 dex25.htm EXHIBIT 25 Exhibit 25

Exhibit 25

 

 

 

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)  ¨

 

 

THE BANK OF NEW YORK MELLON

(Exact name of trustee as specified in its charter)

 

New York   13-5160382

(State of incorporation

if not a U.S. national bank)

 

(I.R.S. employer

identification no.)

One Wall Street, New York, N.Y.   10286
(Address of principal executive offices)   (Zip code)

 

 

PAETEC Holding Corp.

(Exact name of obligor as specified in its charter)

 

Delaware   20-5339741

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)


TABLE OF CO-REGISTRANTS

 

Exact Name of Co-Registrant

as Specified in its Charter

 

State or Other Jurisdiction

of Incorporation or

Organization

 

I.R.S. Employer

Identification No.

PAETEC Corp.

  Delaware   16-1551094

PAETEC Integrated Solutions Group, Inc.

  Delaware   16-1585842

PAETEC iTel, L.L.C.

  North Carolina   47-0903254

PaeTec Software Corp.

  New York   16-1384745

US LEC Corp.

  Delaware   56-2065535

US LEC of Alabama LLC

  North Carolina   56-2104211

US LEC of Florida LLC

  North Carolina   56-2046424

US LEC of Maryland LLC

  North Carolina   56-2117626

US LEC of New York Inc.

  North Carolina   20-2155245

US LEC of North Carolina Inc.

  North Carolina   56-2091767

US LEC of South Carolina LLC

  Delaware   56-2056428

US LEC of Tennessee Inc.

  Delaware   56-2065536

PaeTec Communications, Inc.

  Delaware   16-1551095

PAETEC Communications of Virginia, Inc.

  Virginia   16-6486048

US LEC Communications Inc.

  North Carolina   56-2162051

US LEC of Georgia LLC

  Delaware   56-2065537

US LEC of Pennsylvania LLC

  North Carolina   56-2117625

US LEC of Virginia L.L.C.

  Delaware   56-2012173

Allworx Corp.

  Delaware   26-0259247

MPX, Inc.

  Delaware   16-1468411

Technology Resource Solutions, Inc.

  New York   51-0443765

McLeodUSA Incorporated

  Delaware   42-1407240

McLeodUSA Holdings, Inc.

  Delaware   42-1470714

McLeodUSA Information Services, Inc.

  Delaware   76-0529757

McLeodUSA Telecommunications Services, Inc.

  Iowa   42-1407242

McLeodUSA Network Services, Inc.

  Iowa   42-1407241

McLeodUSA Purchasing, L.L.C.

  Iowa   42-1501014

 

One PAETEC Plaza

600 Willowbrook Office Park

Fairport, New York

  14450
(Address of principal executive offices)   (Zip code)

 

 

8 7/8 % Senior Secured Notes due 2017 and

Guarantees of the 8 7/8% Senior Secured Notes due 2017

(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.

 

Name

  

Address

Superintendent of Banks of the State of

New York

  

One State Street, New York, N.Y.

10004-1417, and Albany, N.Y.

12223

Federal Reserve Bank of New York   

33 Liberty Street, 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 Mellon (formerly known as The Bank of New York, itself 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, Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637, Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121195 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-152735).

 

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  4. A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-154173).

 

  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. 333-152735).

 

  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 Mellon, 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 16th day of September, 2009.

 

THE BANK OF NEW YORK MELLON
By:   /S/ SHERMA THOMAS
  Name: SHERMA THOMAS
  Title: SENIOR ASSOCIATE

 

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EXHIBIT 7

Consolidated Report of Condition of

THE BANK OF NEW YORK MELLON

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 June 30, 2009, 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
In Thousands

ASSETS

  

Cash and balances due from depository institutions:

  

Noninterest-bearing balances and currency and coin

   3,228,000

Interest-bearing balances

   56,028,000

Securities:

  

Held-to-maturity securities

   6,782,000

Available-for-sale securities

   39,436,000

Federal funds sold and securities purchased under agreements to resell:

  

Federal funds sold in domestic offices

   1,319,000

Securities purchased under agreements to resell

   50,000

Loans and lease financing receivables:

  

Loans and leases held for sale

   0

Loans and leases, net of unearned income

   29,318,000

LESS: Allowance for loan and lease losses

   414,000

Loans and leases, net of unearned income and allowance

   28,904,000

Trading assets

   6,282,000

Premises and fixed assets (including capitalized leases)

   1,115,000

Other real estate owned

   6,000

Investments in unconsolidated subsidiaries and associated companies

   830,000

Direct and indirect investments in real estate ventures

   0

Intangible assets:

  

Goodwill

   4,949,000

Other intangible assets

   1,514,000

Other assets

   11,560,000
    

Total assets

   162,003,000
    

 

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LIABILITIES

  

Deposits:

  

In domestic offices

   57,327,000

Noninterest-bearing

   32,885,000

Interest-bearing

   24,442,000

In foreign offices, Edge and Agreement subsidiaries, and IBFs

   74,161,000

Noninterest-bearing

   2,846,000

Interest-bearing

   71,315,000

Federal funds purchased and securities sold under agreements to repurchase:

  

Federal funds purchased in domestic offices

   414,000

Securities sold under agreements to repurchase

   13,000

Trading liabilities

   6,144,000

Other borrowed money: (includes mortgage indebtedness and obligations under capitalized leases)

   2,695,000

Not applicable

  

Not applicable

  

Subordinated notes and debentures

   3,490,000

Other liabilities

   5,064,000
    

Total liabilities

   149,308,000
    

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

   0

Common stock

   1,135,000

Surplus (exclude all surplus related to preferred stock)

   8,297,000

Retained earnings

   7,991,000

Accumulated other comprehensive income

   -5,097,000

Other equity capital components

   0

Total bank equity capital

   12,326,000

Noncontrolling (minority) interests in consolidated subsidiaries

   369,000

Total equity capital

   12,695,000
    

Total liabilities and equity capital

   162,003,000
    

 

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I, Thomas P. Gibbons, Chief Financial Officer 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 P. Gibbons,

Chief Financial Officer

 

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.

 

Gerald L. Hassell

Robert P. Kelly

Catherine A. Rein

  LOGO    Directors
    
    

 

 

 

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