EX-25.1 42 dex251.htm STATEMENT ON FORM T-1 AS TO THE ELIGIBILITY OF THE TRUSTEE. Statement on Form T-1 as to the Eligibility of the Trustee.

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

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)

 

Richard Prokosch

U.S. Bank National Association

60 Livingston Avenue

St. Paul, MN 55107

(651) 495-3918

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

 

Bombardier Recreational Products Inc.

(Issuer with respect to the Securities)

 

Canada   98-0413395
(State or other jurisdiction of incorporation or organization)   (I.R.S. Employer Identification No.)

1061 Parent Street

Saint-Bruno, Quebec

Canada

  J3V 6P1
(Address of Principal Executive Offices)   (Zip Code)

 

8 3/8% Senior Subordinated Notes due 2013

(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 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 March 31, 2004, published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.

 

* Incorporated by reference to Registration Number 333-67188.

 

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NOTE

 

The answers to this statement insofar as such answers relate to what persons have been underwriters for any securities of the obligors within three years prior to the date of filing this statement, or what persons are owners of 10% or more of the voting securities of the obligors, or affiliates, are based upon information furnished to the Trustee by the obligors. While the Trustee has no reason to doubt the accuracy of any such information, it cannot accept any responsibility therefor.

 

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 St. Paul, State of Minnesota on the 10th of June, 2004.

 

U.S. BANK NATIONAL ASSOCIATION

By:

 

/s/ Lori-Anne Rosenberg

   

Lori-Anne Rosenberg

   

Assistant Vice President

 

By:  

/s/ Benjamin J. Krueger

   

Benjamin J. Krueger

   

Assistant 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: June 10, 2004

 

U.S. BANK NATIONAL ASSOCIATION

By:

 

/s/ Lori-Anne Rosenberg

   

Lori-Anne Rosenberg

   

Assistant Vice President

 

By:  

/s/ Benjamin J. Krueger

   

Benjamin J. Krueger

   

Assistant Vice President

 

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Exhibit 7

U.S. Bank National Association

Statement of Financial Condition

As of 3/31/2004

 

($000’s)

 

     3/31/2004

Assets

      

Cash and Due From Depository Institutions

   $ 7,180,778

Federal Reserve Stock

     0

Securities

     45,038,794

Federal Funds

     2,593,702

Loans & Lease Financing Receivables

     116,474,594

Fixed Assets

     1,789,213

Intangible Assets

     10,532,022

Other Assets

     7,996,466
    

Total Assets

   $ 191,605,569

Liabilities

      

Deposits

   $ 126,605,087

Fed Funds

     5,698,785

Treasury Demand Notes

     3,981,328

Trading Liabilities

     252,912

Other Borrowed Money

     23,295,560

Acceptances

     148,067

Subordinated Notes and Debentures

     5,807,310

Other Liabilities

     5,587,914
    

Total Liabilities

   $ 171,376,963

Equity

      

Minority Interest in Subsidiaries

   $ 1,005,645

Common and Preferred Stock

     18,200

Surplus

     11,677,397

Undivided Profits

     7,527,364
    

Total Equity Capital

   $ 20,228,606

Total Liabilities and Equity Capital

   $ 191,605,569

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/ Lori-Anne Rosenberg

   

Lori-Anne Rosenberg

   

Assistant Vice President

 

Date: June 10, 2004

 

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