EX-25.1 8 d76111exv25w1.htm EX-25.1 exv25w1
Exhibit 25.1
 
 
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
 
     
o   CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)
WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
     
A National Banking Association
(Jurisdiction of incorporation or
organization if not a U.S. national
bank) 		  94-1347393
(I.R.S. Employer
Identification No.)
     
101 North Phillips Avenue
Sioux Falls, South Dakota
(Address of principal executive offices) 		  57104
(Zip code)
Wells Fargo & Company
Law Department, Trust Section
MAC N9305-175
Sixth Street and Marquette Avenue, 17th Floor
Minneapolis, Minnesota 55479
(612) 667-4608
(Name, address and telephone number of agent for service)

 
MARTIN MIDSTREAM PARTNERS L.P.
MARTIN MIDSTREAM FINANCE CORP.
(Exact name of obligor as specified in its charter)
     
Delaware
Delaware
(State or other jurisdiction of
incorporation or organization) 		  05-0527861
27-2121037
(I.R.S. Employer
Identification No.)
4200 Stone Road
Kilgore, Texas 75662
TELEPHONE: (903) 983-6200
(Address, Including Zip Code, and Telephone Number, Including Area
Code, of Registrant’s Principal Executive Offices)
 
8 7/8% Senior Notes due 2018
And Guarantees of 8 7/8% Senior Notes due 2018
 
 

 

 

GUARANTORS*
         
Exact name of   State of   IRS
Additional Registrant as   Incorporation or   Employee
Specified in it Charter   Organization   Identification No
 
        
Martin Operating GP LLC
  Delaware   76-0712101
Martin Operating Partnership, L.P.
  Delaware   76-0712100
Prism Gas Systems I, L.P.
  Texas   20-1995429
Prism Gas Systems GP, L.L.C.
  Texas   20-1995342
Prism Gulf Coast Systems, L.L.C.
  Texas   20-1995457
McLeod Gas Gathering and Processing
  Louisiana   72-1437080
Company, L.L.C.
        
Woodlawn Pipeline Co., Inc.
  Texas   75-2596945
Prism Liquids Pipeline LLC
  Texas   26-1548825
 
*   Each Guarantor has the same principal executive office and phone number as Martin Midstream Partners L.P.
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
Administrator of National Banks
United States Department of the Treasury
Washington, D.C. 20219
 
      Federal Deposit Insurance Corporation
550 17th Street, N.W.
Washington, D.C. 20429
 
      Federal Reserve Bank of San Francisco
P.O. Box 7702
San Francisco, CA 94120
 
  (b)   Whether it is authorized to exercise corporate trust powers.
 
      The trustee is authorized to exercise corporate trust powers.
Item 2. Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.
     None with respect to the trustee.

 

 

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.
Item 15. Foreign Trustee. Not applicable.
Item 16. List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.
     
 
    
Exhibit 1.
  A copy of the Articles of Association of the trustee now in effect.*
 
    
Exhibit 2.
  A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**
 
    
Exhibit 3.
  See Exhibit 2
 
    
Exhibit 4.
  Copy of By-laws of the trustee as now in effect.***
 
    
Exhibit 5.
  Not applicable.
 
    
Exhibit 6.
  The consent of the trustee required by Section 321(b) of the Act.
 
    
Exhibit 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.
 
    
Exhibit 8.
  Not applicable.
 
    
Exhibit 9.
  Not applicable.
 
*   Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of Hornbeck Offshore Services LLC file number 333-130784-06.
 
**   Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.
 
***   Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated May 26, 2005 of Penn National Gaming Inc. file number 333-125274.

 

 

SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo 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 Dallas and State of Texas on the 10th day of September, 2010.
         
  WELLS FARGO BANK, NATIONAL ASSOCIATION
 		  
  /s/ John C. Stohlmann    
  John C. Stohlmann   
  Vice President   

 

 

         
EXHIBIT 6
September 10, 2010
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request thereof.
         
  Very truly yours,

WELLS FARGO BANK, NATIONAL ASSOCIATION
 		  
  /s/ John C. Stohlmann    
  John C. Stohlmann   
  Vice President   

 

 

         
Consolidated Report of Condition of
Wells Fargo Bank National Association
of 101 North Phillips Avenue, Sioux Falls, SD 57104
And Foreign and Domestic Subsidiaries,
at the close of business June 30, 2010, filed in accordance with 12 U.S.C. §161 for National Banks.
                 
            Dollar Amounts  
            In Millions  
ASSETS
                
Cash and balances due from depository institutions:
                
Noninterest-bearing balances and currency and coin
           $ 18,090  
Interest-bearing balances
             59,995  
Securities:
                
Held-to-maturity securities
             0  
Available-for-sale securities
             136,426  
Federal funds sold and securities purchased under agreements to resell:
                
Federal funds sold in domestic offices
             1,213  
Securities purchased under agreements to resell
             4,560  
Loans and lease financing receivables:
                
Loans and leases held for sale
             26,936  
Loans and leases, net of unearned income
     697,216          
LESS: Allowance for loan and lease losses
     20,992          
Loans and leases, net of unearned income and allowance
             676,224  
Trading Assets
             32,627  
Premises and fixed assets (including capitalized leases)
             8,206  
Other real estate owned
             4,564  
Investments in unconsolidated subsidiaries and associated companies
             562  
Direct and indirect investments in real estate ventures
             122  
Intangible assets
                
Goodwill
             21,005  
Other intangible assets
             25,903  
Other assets
             56,847  
 
                
 
              
Total assets
           $ 1,073,280  
 
              
 
                
LIABILITIES
                
Deposits:
                
In domestic offices
           $ 719,242  
Noninterest-bearing
     153,912          
Interest-bearing
     565,330          
In foreign offices, Edge and Agreement subsidiaries, and IBFs
             97,865  
Noninterest-bearing
     1,563          
Interest-bearing
     96,302          
Federal funds purchased and securities sold under agreements to repurchase:
                
Federal funds purchased in domestic offices
             6,073  
Securities sold under agreements to repurchase
             14,292  

 

 

         
    Dollar Amounts  
    In Millions  
 
        
Trading liabilities
     15,806  
Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)
     45,602  
Subordinated notes and debentures
     21,152  
Other liabilities
     28,056  
 
        
 
      
Total liabilities
   $ 948,088  
 
        
EQUITY CAPITAL
        
Perpetual preferred stock and related surplus
     0  
Common stock
     519  
Surplus (exclude all surplus related to preferred stock)
     98,774  
Retained earnings
     19,082  
Accumulated other comprehensive income
     5,510  
Other equity capital components
     0  
 
        
 
      
Total bank equity capital
     123,885  
Noncontrolling (minority) interests in consolidated subsidiaries
     1,307  
 
      
 
        
Total equity capital
     125,192  
 
        
 
      
Total liabilities, and equity capital
   $ 1,073,280  
 
      
I, Howard I. Atkins, EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.
Howard I. Atkins
EVP & CFO      
We, the undersigned directors, attest to the correctness of this Report of Condition 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.
     
John Stumpf
  Directors
Carrie Tolstedt
    
Michael Loughlin