EX-25.2 9 d740449dex252.htm EX-25.2 EX-25.2

Exhibit 25.2

 

 

 

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)

 

 

THE BANK OF NEW YORK MELLON

TRUST COMPANY, N.A.

(Exact name of trustee as specified in its charter)

 

 

 

  95-3571558

(Jurisdiction of incorporation

if not a U.S. national bank)

  

(I.R.S. employer

identification no.)

400 South Hope Street

Suite 500

Los Angeles, California

   90071
(Address of principal executive offices)   (Zip code)

 

 

Marriott Ownership Resorts, Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   52-1320904

(State or other jurisdiction of

incorporation or organization)

  

(I.R.S. employer

identification no.)

ILG, LLC

(Exact name of obligor as specified in its charter)

 

Delaware   26-2590997

(State or other jurisdiction of

incorporation or organization)

  

(I.R.S. employer

identification no.)

TABLE OF ADDITIONAL REGISTRANT GUARANTORS

 

Exact Name of Additional Registrant Guarantor as Specified in Its Charter   Jurisdiction of
Incorporation or
Organization		  

I.R.S. Employer
Identification

Number

Marriott Vacations Worldwide Corporation

   Delaware   45-2598330

Aqua Hospitality LLC

   Delaware   46-0641767

Aqua Hotels & Resorts, LLC

   Hawaii   65-1163911

Aqua Hotels and Resorts Operator LLC

   Delaware   37-1697816

Aqua Hotels and Resorts, Inc.

   Delaware   26-3181909

Aqua Luana Operator LLC

   Hawaii   90-1028216

Aqua-Aston Holdings, Inc.

   Delaware   87-0799653

Aqua-Aston Hospitality, LLC

   Hawaii   13-4207830

Aston Hotels & Resorts Florida, LLC

   Florida   46-3267551

Beach House Development Partnership

   Florida   65-0680991

CDP GP, Inc.

   Delaware   36-4190833

CDP Investors, L.P.

   Delaware   36-4158822

Cerromar Development Partners GP, Inc.

   Delaware   36-4158824

Cerromar Development Partners, L.P., S.E.

   Delaware   36-4158825

Coconut Plantation Partner, Inc.

   Florida   81-2972199

Data Marketing Associates East, Inc.

   Florida   59-3531162

Diamond Head Management LLC

   Hawaii   45-2996891

Flex Collection, LLC

   Florida   82-0679134

FOH Holdings, LLC

   Delaware   None

FOH Hospitality, LLC

   Delaware   68-0509641

Grand Aspen Holdings, LLC

   Delaware   95-4837613

 

- 2 -

Exact Name of Additional Registrant Guarantor as Specified in Its Charter   Jurisdiction of
Incorporation or
Organization		  

I.R.S. Employer
Identification

Number

Grand Aspen Lodging, LLC

   Delaware   84-1589465

Hawaii Vacation Title Services, Inc.

   Hawaii   20-0773633

Hotel Management Services LLC

   Hawaii   27-0562444

HPC Developer, LLC

   Delaware   81-5385696

HT-Highlands, Inc.

   Delaware   36-3978574

HTS-BC, L.L.C.

   Delaware   36-3296881

HTS-Beach House Partner, L.L.C.

   Delaware   38-3973709

HTS-Beach House, Inc.

   Delaware   36-4097668

HTS-Coconut Point, Inc.

   Delaware   36-4262309

HTS-Ground Lake Tahoe, Inc.

   Delaware   36-4197178

HTS-Key West, Inc.

   Delaware   36-3942758

HTS-KW, Inc.

   Delaware   36-4187262

HTS-Lake Tahoe, Inc.

   Delaware   36-3919669

HTS-Loan Servicing, Inc.

   Delaware   36-4206919

HTS-Main Street Station, Inc.

   Delaware   36-4351998

HTS-Maui, L.L.C.

   Delaware   45-5601104

HTS-San Antonio, Inc.

   Delaware   45-0479517

HTS-San Antonio, L.L.C.

   Delaware   61-1731501

HTS-San Antonio, L.P.

   Delaware   32-0018843

HTS-Sedona, Inc.

   Delaware   36-4290387

HTS-Sunset Harbor Partner, L.L.C.

   Delaware   47-3952343

HTS-Windward Pointe Partner, L.L.C.

   Delaware   47-3932767

HV Global Group, Inc.

   Delaware   36-3878044

 

- 3 -

Exact Name of Additional Registrant Guarantor as Specified in Its Charter   Jurisdiction of
Incorporation or
Organization		  

I.R.S. Employer
Identification

Number

HV Global Management Corporation

   Delaware   36-3950778

HV Global Marketing Corporation

   Florida   65-0459735

HVO Key West Holdings, LLC

   Florida   47-5257462

IIC Holdings, Incorporated

   Delaware   36-4197698

ILG Management, LLC

   Florida   90-0968929

ILG Shared Ownership, Inc.

   Delaware   61-1846364

Interval Acquisition Corp.

   Delaware   36-4189885

Interval Holdings, Inc.

   Delaware   06-1428126

Interval International, Inc.

   Florida   59-2367254

Interval Resort & Financial Services, Inc.

   Florida   65-0614258

Interval Software Services, LLC

   Florida   65-1133709

Kai Management Services LLC

   Hawaii   26-4613508

Kauai Blue, Inc.

   Delaware   20-0406855

Kauai Lagoons Holdings LLC

   Delaware   20-3620899

Key Wester Limited

   Florida   36-4204734

Lagunamar Cancun Mexico, Inc.

   Florida   20-2286494

Management Acquisition Holdings, LLC

   Delaware   27-3967875

Marriott Kauai Ownership Resorts, Inc.

   Delaware   52-1881454

Marriott Ownership Resorts Procurement, LLC

   Delaware   52-2262337

Marriott Resorts Hospitality Corporation

   South Carolina   57-0715279

Marriott Resorts Sales Company, Inc.

   Delaware   52-1682534

Maui Condo and Home, LLC

   Hawaii   99-0266391

MH Kapalua Venture, LLC

   Delaware   33-1099097

 

- 4 -

Exact Name of Additional Registrant Guarantor as Specified in Its Charter   Jurisdiction of
Incorporation or
Organization		  

I.R.S. Employer
Identification

Number

MORI Golf (Kauai), LLC

   Delaware   26-0341137

MORI Member (Kauai), LLC

   Delaware   20-3524073

MORI Residences, Inc.

   Delaware   52-2066724

MORI Waikoloa Holding Company, LLC

   Delaware   81-2251748

MTSC, Inc.

   Delaware   52-2323185

MVW of Hawaii, Inc.

   Delaware   47-3155848

MVW SSC, Inc.

   Delaware   46-4698277

MVW US Holdings, Inc.

   Delaware   45-2756557

MVW US Services, LLC

   Delaware   46-4710314

Pelican Landing Timeshare Ventures Limited Partnership

   Delaware   36-4351657

R.C. Chronicle Building, L.P.

   Delaware   20-2098782

RBF, LLC

   Delaware   65-1086178

RCC (GP) Holdings LLC

   Delaware   36-4615537

RCC (LP) Holdings L.P.

   Delaware   37-1548471

RCDC 942, L.L.C.

   Delaware   27-0842972

RCDC Chronicle LLC

   Delaware   83-0490828

REP Holdings, Ltd.

   Hawaii   99-0335453

Resort Management Finance Services, Inc.

   Florida   45-2346663

Resort Sales Services, Inc.

   Delaware   38-3990004

RQI Holdings, LLC

   Hawaii   03-0530842

S.O.I. Acquisition Corp.

   Florida   61-1731501

Scottsdale Residence Club, Inc.

   Florida   20-5899344

 

- 5 -

Exact Name of Additional Registrant Guarantor as Specified in Its Charter   Jurisdiction of
Incorporation or
Organization		  

I.R.S. Employer
Identification

Number

Sheraton Flex Vacations, LLC

   Florida   47-2210419

St. Regis New York Management, Inc.

   Florida   20-3808613

St. Regis Residence Club, New York Inc.

   Florida   20-3081304

The Cobalt Travel Company, LLC

   Delaware   52-2171053

The Lion & Crown Travel Co., LLC

   Delaware   26-3644512

The Ritz-Carlton Development Company, Inc.

   Delaware   52-2168235

The Ritz-Carlton Management Company, L.L.C.

   Delaware   51-0397808

The Ritz-Carlton Sales Company, Inc.

   Delaware   52-2182206

The Ritz-Carlton Title Company, Inc.

   Delaware   52-2182207

Vacation Ownership Lending GP, Inc.

   Delaware   36-4190833

Vacation Ownership Lending, L.P.

   Delaware   36-4190846

Vacation Title Services, Inc.

   Florida   59-3543344

VCH Communications, Inc.

   Florida   59-3087363

VCH Consulting, Inc.

   Florida   59-3259779

VCH Systems, Inc.

   Florida   65-0534423

Vistana Acceptance Corp.

   Florida   59-3304480

Vistana Aventuras, Inc.

   Florida   81-3970560

Vistana Development, Inc.

   Florida   59-3075838

Vistana Hawaii Management, Inc.

   Hawaii   99-0353557

Vistana Management, Inc.

   Florida   59-3087359

Vistana MB Management, Inc.

   South Carolina   59-3445868

Vistana Portfolio Services, Inc.

   Florida   59-3384912

 

- 6 -

Exact Name of Additional Registrant Guarantor as Specified in Its Charter   Jurisdiction of
Incorporation or
Organization		  

I.R.S. Employer
Identification

Number

Vistana PSL, Inc.

   Florida   59-3466205

Vistana Residential Management, Inc.

   Florida   59-3384873

Vistana Signature Experiences, Inc.

   Delaware   47-4235905

Vistana Signature Network, Inc.

   Delaware   91-1805536

Vistana Vacation Ownership, Inc.

   Florida   06-1558234

Vistana Vacation Realty, Inc.

   Florida   03-0469903

Vistana Vacation Services Hawaii, Inc.

   Hawaii   99-0354234

VOL GP, Inc.

   Delaware   36-4190834

VOL Investors, L.P.

   Delaware   36-4190836

Volt Merger Sub, LLC

   Delaware   None

VSE Development, Inc.

   Florida   26-1267681

VSE East, Inc.

   Florida   59-3475882

VSE Mexico Portfolio Services, Inc.

   Florida   20-3057270

VSE Myrtle Beach, LLC

   South Carolina   59-3425941

VSE Pacific, Inc.

   Florida   59-3646594

VSE Trademark, Inc.

   Florida   59-3088550

VSE Vistana Villages, Inc.

   Florida   59-3525948

VSE West, Inc.

   Florida   59-3462185

Westin Sheraton Vacation Services, Inc.

   Florida   59-3455889

Windward Pointe II, L.L.C.

   Delaware   36-4453636

Worldwide Vacation & Travel, Inc.

   Florida   22-2362974

WVC Rancho Mirage, Inc.

   Delaware   91-1822046

 

- 7 -

c/o Marriott Vacations Worldwide Corporation

6649 Westwood Blvd.

Orlando, Florida

   32821
(Address of principal executive offices)   (Zip code)

 

 

5.625% Senior Notes due 2023

6.500% Senior Notes due 2026

Guarantees of 5.625% Senior Notes due 2023

Guarantees of 6.500% Senior Notes due 2026

(Title of the indenture securities)

 

 

 

 

- 8 -

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

Comptroller of the Currency

United States Department of the Treasury

    Washington, DC 20219

Federal Reserve Bank

    San Francisco, CA 94105

Federal Deposit Insurance Corporation

    Washington, DC 20429

 

(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 articles of association of The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A. (Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121948 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-152875).

 

  2.

A copy of certificate of authority of the trustee to commence business. (Exhibit 2 to Form T-1 filed with Registration Statement No.333-121948).

 

  3.

A copy of the authorization of the trustee to exercise corporate trust powers (Exhibit 3 to Form T-1 filed with Registration Statement No.333-152875).

 

- 9 -

  4.

A copy of the existing by-laws of the trustee (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-229762).

 

  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. 333-152875).

 

  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.

 

- 10 -

SIGNATURE

Pursuant to the requirements of the Act, the trustee, The Bank of New York Mellon Trust Company, N.A., a 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 Los Angeles, and State of California, on the 3rd day of May, 2019.

 

THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A.
By:  

/s/ Manjari Purkayastha

  Name:   Manjari Purkayastha
  Title:   Vice President

 

- 11 -

EXHIBIT 7

Consolidated Report of Condition of

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

of 400 South Hope Street, Suite 500, Los Angeles, CA 90071

At the close of business December 31, 2018, published in accordance with Federal regulatory authority instructions.

 

     Dollar amounts
in thousands		  

ASSETS

   

Cash and balances due from depository institutions:

   

Noninterest-bearing balances and currency and coin

      2,374  

Interest-bearing balances

      124,178  

Securities:

   

Held-to-maturity securities

      0  

Available-for-sale securities

      198,413  

Equity securities with readily determinable fair values not held for trading

      NR  

Federal funds sold and securities purchased under agreements to resell:

   

Federal funds sold

      0  

Securities purchased under agreements to resell

      0  

Loans and lease financing receivables:

   

Loans and leases held for sale

      0  

Loans and leases, held for investment

      0  

LESS: Allowance for loan and lease losses

      0  

Loans and leases held for investment, net of allowance

      0  

Trading assets

      0  

Premises and fixed assets (including capitalized leases)

      9,069  

Other real estate owned

      0  

Investments in unconsolidated subsidiaries and associated companies

      0  

Direct and indirect investments in real estate ventures

      0  

Intangible assets

      859,682  

Other assets

      136,256  
  

 

 

  

Total assets

    $ 1,329,972  
  

 

 

  

 

- 12 -

     Dollar amounts
in thousands		  

LIABILITIES

   

Deposits:

   

In domestic offices

      2,677  

Noninterest-bearing

      2,677  

Interest-bearing

      0  

Not applicable

   

Federal funds purchased and securities sold under agreements to repurchase:

   

Federal funds purchased

      0  

Securities sold under agreements to repurchase

      0  

Trading liabilities

      0  

Other borrowed money:

   

(includes mortgage indebtedness and obligations under capitalized leases)

      0  

Not applicable

   

Not applicable

   

Subordinated notes and debentures

      0  

Other liabilities

      226,786  

Total liabilities

      229,463  

Not applicable

   

EQUITY CAPITAL

   

Perpetual preferred stock and related surplus

      0  

Common stock

      1,000  

Surplus (exclude all surplus related to preferred stock)

      323,516  

Not available

   

Retained earnings

      777,089  

Accumulated other comprehensive income

      -1,096  

Other equity capital components

      0  

Not available

   

Total bank equity capital

      1,100,509  

Noncontrolling (minority) interests in consolidated subsidiaries

      0  

Total equity capital

      1,100,509  
  

 

 

  

Total liabilities and equity capital

      1,329,972  
  

 

 

  

I, Matthew J. McNulty, CFO of the above-named bank do hereby declare that the Reports of Condition and Income (including the supporting schedules) for this report date 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.

Matthew J. McNulty     )            CFO

We, the undersigned directors (trustees), attest to the correctness of the Report of Condition (including the supporting schedules) for this report date 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 appropriate Federal regulatory authority and is true and correct.

 

Antonio I. Portuondo, President     )

  

Michael P. Scott, Managing Director    )

   Directors (Trustees)

Kevin P. Caffrey, Managing Director    )

  

 

- 13 -