EX-25.1 8 a2166318zex-25_1.htm EXHIBIT 25.1

Exhibit 25.1

 

 

FORM T-1

 

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

 

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)      
o

 


 

THE BANK OF NEW YORK

(Exact name of trustee as specified in its charter)

 

New York

 

13-5160382

(State of incorporation

 

(I.R.S. employer

if not a U.S. national bank)

 

identification no.)

 

 

 

One Wall Street, New York, N.Y.

 

10286

(Address of principal executive offices)

 

(Zip code)

 


 

DRS TECHNOLOGIES, INC.
(Exact name of obligor as specified in its charter)

 

Delaware

 

13-2632319

(State or other jurisdiction of

 

(I.R.S. employer

incorporation or organization)

 

identification no.)

 



 

 

ADDITIONAL REGISTRANTS

 

Names of Additional
Registrant*

 

Jurisdiction of
Incorporation or
Organization

 

I.R.S. Employer
Identification Number

 

NAI Technologies, Inc.

 

New York

 

11-1798773

 

 

 

 

 

 

 

DRS Electronic Systems, Inc.

 

Delaware

 

22-3256179

 

 

 

 

 

 

 

DRS Surveillance Support Systems, Inc.

 

Delaware

 

59-3738936

 

 

 

 

 

 

 

DRS Technical Services, Inc.

 

Delaware

 

95-3770449

 

 

 

 

 

 

 

DRS Power & Control Technologies, Inc.

 

Delaware

 

42-1537952

 

 

 

 

 

 

 

DRS Electric Power Technologies, Inc.

 

Delaware

 

65-1165812

 

 

 

 

 

 

 

DRS Power Technology, Inc.

 

Delaware

 

41-2085595

 

 

 

 

 

 

 

DRS Tactical Systems, Inc.

 

Florida

 

58-2487888

 

 

 

 

 

 

 

DRS Engineering Development Labs, Inc.

 

Ohio

 

31-1176055

 

 

 

 

 

 

 

DRS Signal Technologies, Inc.

 

Ohio

 

58-2417599

 

 

 

 

 

 

 

DRS Signal Recording Technologies, Inc.

 

Maryland

 

52-1524153

 

 

 

 

 

 

 

DRS Systems Management Corporation

 

Delaware

 

22-3263915

 

 

 

 

 

 

 

DRS Optronics, Inc.

 

Delaware

 

59-3321536

 

 

 

 

 

 

 

DRS Sensors & Targeting Systems, Inc.

 

Delaware

 

52-2335339

 

 

 

 

 

 

 

DRS FPA, Inc.

 

Delaware

 

22-3603943

 

 

 

 

 

 

 

DRS Infrared Technologies, L.P.

 

Delaware

 

22-3611280

 

 

 

 

 

 

 

DRS Unmanned Technologies, Inc.

 

Delaware

 

22-3593065

 

 

 

 

 

 

 

DRS Data & Imaging Systems, Inc.

 

Delaware

 

94-2260549

 

 

2



 

DRS Technologies Canada, Inc.

 

Delaware

 

22-3593066

 

 

 

 

 

 

 

DRS Communications Company, LLC

 

Delaware

 

52-2248383

 

 

 

 

 

 

 

DRS Systems, Inc.

 

Delaware

 

22-3422328

 

 

 

 

 

 

 

Night Vision Equipment Co., Inc.

 

Delaware

 

11-3684395

 

 

 

 

 

 

 

DRS International, Inc.

 

Delaware

 

22-3593067

 

 

 

 

 

 

 

Integrated Defense Technologies, Inc.

 

Delaware

 

13-4027646

 

 

 

 

 

 

 

Tech-Sym Corporation

 

Nevada

 

74-1509818

 

 

 

 

 

 

 

DRS Test & Energy Management, Inc.

 

Delaware

 

38-2774090

 

 

 

 

 

 

 

DRS EW & Network Systems, Inc.

 

Delaware

 

13-4052297

 

 

 

 

 

 

 

DRS Signal Solutions, Inc.

 

Delaware

 

38-3662361

 

 

 

 

 

 

 

DRS Training & Control Systems, Inc.

 

Florida

 

59-1118491

 

 

 

 

 

 

 

DRS Tactical Systems Global Services, Inc.

 

Florida

 

59-2209179

 

 

 

 

 

 

 

DRS Codem Systems, Inc.

 

Delaware

 

20-2698603

 

 

 

 

 

 

 

Maxco, Inc.

 

Missouri

 

N/A

 

 

5 Sylvan Way
Parsippany, New Jersey
(Address of principal executive offices)

 

07054
(Zip code)

 


 

Senior Debt Securities
(Title of the indenture securities)

 

 

3



 

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

Superintendent of Banks of the State of
New York

 

One State Street, New York, N.Y.
10004-1417, and Albany, N.Y. 12223

 

 

 

Federal Reserve Bank of New York

 

33 Liberty Street, New York, N.Y. 10045

 

 

 

Federal Deposit Insurance Corporation

 

Washington, D.C. 20429

 

 

 

New York Clearing House Association

 

New York, New York 10005

 

(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 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 filed with Registration Statement
No. 333-121195.)

 

4



 

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. 333-106702.)

 

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.

 

5



 

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 29th day of December, 2005.

 

 

THE BANK OF NEW YORK

 

 

 

 

 

By:

/S/

ROBERT A. MASSIMILLO

 

 

Name:

ROBERT A. MASSIMILLO

 

 

Title:

VICE PRESIDENT

 

6



 

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 September 30, 2005, 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

 

$

3,223,000

 

Interest-bearing balances

 

6,428,000

 

Securities:

 

 

 

Held-to-maturity securities

 

2,071,000

 

Available-for-sale securities

 

22,899,000

 

Federal funds sold and securities purchased under agreements to resell

 

 

 

Federal funds sold in domestic offices

 

1,783,000

 

Securities purchased under agreements to resell

 

271,000

 

Loans and lease financing receivables:

 

 

 

Loans and leases held for sale

 

0

 

Loans and leases, net of unearned income

 

34,349,000

 

LESS: Allowance for loan and lease losses

 

557,000

 

Loans and leases, net of unearned income and allowance

 

33,792,000

 

Trading assets

 

5,761,000

 

Premises and fixed assets (including capitalized leases)

 

801,000

 

Other real estate owned

 

0

 

Investments in unconsolidated subsidiaries and associated companies

 

288,000

 

Customers’ liability to this bank on acceptances outstanding

 

106,000

 

Intangible assets:

 

 

 

Goodwill

 

2,158,000

 

Other intangible assets

 

765,000

 

Other assets

 

5,391,000

 

Total assets

 

$

85,737,000

 

 

 

 

 

LIABILITIES

 

 

 

Deposits:

 

 

 

In domestic offices

 

$

35,878,000

 

Noninterest-bearing

 

16,458,000

 

Interest-bearing

 

19,420,000

 

In foreign offices, Edge and Agreement subsidiaries, and IBFs

 

26,474,000

 

Noninterest-bearing

 

448,000

 

Interest-bearing

 

26,026,000

 

Federal funds purchased and securities sold under agreements to repurchase

 

 

 

Federal funds purchased in domestic offices

 

3,200,000

 

Securities sold under agreements to repurchase

 

101,000

 

Trading liabilities

 

2,914,000

 

Other borrowed money:

 

 

 

(includes mortgage indebtedness and obligations under capitalized leases)

 

1,247,000

 

Not applicable

 

 

 

Bank’s liability on acceptances executed and outstanding

 

108,000

 

Subordinated notes and debentures

 

1,440,000

 

Other liabilities

 

6,119,000

 

Total liabilities

 

$

77,481,000

 

 

 

 

 

Minority interest in consolidated subsidiaries

 

141,000

 

 

 

 

 

EQUITY CAPITAL

 

 

 

Perpetual preferred stock and related surplus

 

0

 

Common stock

 

1,135,000

 

Surplus (exclude all surplus related to preferred stock)

 

2,092,000

 

Retained earnings

 

4,976,000

 

Accumulated other comprehensive income

 

-88,000

 

Other equity capital components

 

0

 

Total equity capital

 

8,115,000

 

Total liabilities, minority interest, and equity capital

 

$

85,737,000

 

 



 

I, Thomas J. Mastro, Executive Vice President and Comptroller 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.

 

 

 

Thomas J. Mastro,

 

 

 

Executive Vice President and Comptroller

 

 

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.

 

Thomas A. Renyi

 

 

Gerald L. Hassell

 

Directors