EX-25.1 6 h43563exv25w1.htm FORM T-1 STATEMENT OF ELIGIBILITY AND QUALIFICATION exv25w1
 

 
 
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)
Steven A. Finklea
U.S. Bank National Association
5555 San Felipe, Suite 1150
Houston, TX 77056
(713) 235-9208
(Name, address and telephone number of agent for service)
         
PLAINS ALL AMERICAN
PIPELINE, L.P. 		  Delaware   76-0582150
         
PAA FINANCE CORP.   Delaware   76-0669671
(Issuer with respect to the Securities)   (State or other jurisdiction of
incorporation or organization) 		  (I.R.S. Employer Identification No.)
     
333 Clay Street, Suite 1600
Houston, TX 		 
77002
     
(Address of Principal Executive Offices)   (Zip Code)
(Title of the Indenture Securities)
6.125% Senior Notes Due 2017
6.650% Senior Notes Due 2037
 
 

 

 

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 and qualification.
  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 September 30, 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.

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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 and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Houston, State of Texas on the March 8, 2007.
         
     
  By:   /s/ Steven A. Finklea    
    Steven A. Finklea   
    Vice President   
 

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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: March 8, 2007
         
     
  By:   /s/ Steven A. Finklea    
    Steven A. Finklea   
    Vice President   
 

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Exhibit 7
U.S. Bank National Association
Statement of Financial Condition
As of 9/30/2006
($000’s)
         
    9/30/2006  
Assets
        
Cash and Due From Depository Institutions
   $ 6,436,856  
Securities
     39,245,651  
Federal Funds
     3,475,844  
Loans & Lease Financing Receivables
     141,382,736  
Fixed Assets
     2,629,727  
Intangible Assets
     11,923,005  
Other Assets
     10,799,396  
 
      
Total Assets
   $ 215,893,215  
 
        
Liabilities
        
Deposits
   $ 133,945,028  
Fed Funds
     12,987,134  
Treasury Demand Notes
     0  
Trading Liabilities
     166,479  
Other Borrowed Money
     31,884,451  
Acceptances
     0  
Subordinated Notes and Debentures
     6,909,696  
Other Liabilities
     7,674,530  
 
      
Total Liabilities
   $ 193,567,318  
 
        
Equity
        
Minority Interest in Subsidiaries
   $ 1,044,165  
Common and Preferred Stock
     18,200  
Surplus
     11,977,237  
Undivided Profits
     9,286,295  
 
      
Total Equity Capital
   $ 22,325,897  
 
        
Total Liabilities and Equity Capital
   $ 215,893,215  
 
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/ Steven A. Finklea    
    Steven A. Finklea   
    Vice President   
 
Date: March 8, 2007

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