EX-25.1 5 v106807_ex25-1.htm
 
EXHIBIT 25.1
 
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
(Exact name of trustee as specified in its charter)
 
New York
 
13-5160382
(Jurisdiction of incorporation
 
(I.R.S. Employer
if not a U.S. national bank)
 
Identification No.)

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


 
Origin Agritech Limited
(Exact name of obligor as specified in its charter)

British Virgin Islands
 
N/A
(State or other jurisdiction
 
(I.R.S. Employer
of incorporation or organization)
 
Identification No.)

No. 21 Sheng Ming Yuan Road
   
Changping District
   
Beijing 102206
   
People’s Republic of China 
 
N/A
(Address of principal executive offices)
 
(Zip code)
 

1% Guaranteed Senior Secured Convertible Notes Due 2012
(Title of the indenture securities)
 


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.

Superintendent of Banks of the
 
2 Rector Street, New York, N.Y. 10006
State of New York
 
and Albany, N.Y. 12203
Federal Reserve Bank of New York
 
33 Liberty Plaza, New York, N.Y. 10045
Federal Deposit Insurance Corporation
 
550 17th Street, N.W., Washington, D.C. 20429
New York Clearing House Association
 
New York, N.Y. 10005
 
(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.

Item 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 (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 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121195.)
     
4.
-
A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 with Registration Statement No. 333-121195.)
     
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. 33-44051.)
     
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.
 

 
SIGNATURE

Pursuant to the requirements of the Act, the Trustee, The Bank of New York, 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 12th day of March, 2008.

 
THE BANK OF NEW YORK
     
 
By:  
/s/ Lici Zhu
   
Name: Lici Zhu
   
Title: Assistant Vice President



EXHIBIT 7
 
Consolidated Report of Condition of
THE BANK OF NEW YORK
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 December 31, 2007, 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
   
3,211,000
 
Interest-bearing balances
   
24,114,000
 
Securities:
       
Held-to-maturity securities
   
1,776,000
 
Available-for-sale securities
   
25,801,000
 
Federal funds sold and securities purchased under agreements to resell:
       
Federal funds sold in domestic offices
   
7,888,000
 
Securities purchased under agreements to resell
   
168,000
 
Loans and lease financing receivables:
       
Loans and leases held for sale.
   
0
 
Loans and leases, net of unearned income
   
34,419,000
 
LESS: Allowance for loan and lease losses
   
262,000
 
Loans and leases, net of unearned income and allowance
   
34,157,000
 
Trading assets
   
4,576,000
 
Premises and fixed assets (including capitalized leases)
   
946,000
 
Other real estate owned
   
3,000
 
Investments in unconsolidated subsidiaries and associated companies
   
719,000
 
Not applicable
       
Intangible assets:
       
Goodwill
   
2,492,000
 
Other intangible assets
   
1,002,000
 
Other assets
   
8,819,000
 
Total assets
   
115,672,000
 
 

 
LIABILITIES
       
Deposits:
       
In domestic offices
   
31,109,000
 
Noninterest-bearing
   
18,814,000
 
Interest-bearing
   
12,295,000
 
In foreign offices, Edge and Agreement subsidiaries, and IBFs
   
54,411,000
 
Noninterest-bearing
   
3,890,000
 
Interest-bearing
   
50,521,000
 
Federal funds purchased and securities sold under agreements to repurchase:
       
Federal funds purchased in domestic offices
   
893,000
 
Securities sold under agreements to repurchase
   
110,000
 
Trading liabilities
   
3,743,000
 
Other borrowed money:
(includes mortgage indebtedness and obligations under capitalized leases)
   
3,571,000
 
Not applicable
       
Not applicable
       
Subordinated notes and debentures
   
2,955,000
 
Other liabilities
   
9,751,000
 
Total liabilities
   
106,543,000
 
Minority interest in consolidated subsidiaries
   
157,000
 
         
EQUITY CAPITAL
       
Perpetual preferred stock and related surplus
   
0
 
Common stock
   
1,135,000
 
Surplus (exclude all surplus related to preferred stock)
   
2,368,000
 
Retained earnings
   
5,918,000
 
Accumulated other comprehensive income
   
-449,000
 
Other equity capital components
   
0
 
Total equity capital
   
8,972,000
 
Total liabilities, minority interest, and equity capital
   
115,672,000
 
 
I, Bruce W. Van Saun, 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.
 
Bruce W. Van Saun,
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
Steven G. Elliott
Robert P. Kelly
]
 
Directors