EX-25.1 7 h37550a1exv25w1.htm STATEMENT OF ELIGIBILITY ON FORM T-1 exv25w1
 

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)  |__|
 
THE BANK OF NEW YORK TRUST COMPANY, N.A.
(Exact name of trustee as specified in its charter)
     
(State of incorporation
if not a U.S. national bank)
  95-3571558
(I.R.S. employer
identification no.)
700 South Flower Street    
Suite 500    
Los Angeles, California
(Address of principal executive offices)
  90017
(Zip code)
 
PHI, INC.
(Exact name of obligor as specified in its charter)
     
Louisiana
(State or other jurisdiction of
incorporation or organization)
  72-0395707
(I.R.S. employer
identification no.)
International Helicopter Transport, Inc.
(Exact name of obligor as specified in its charter)
     
Louisiana
(State or other jurisdiction of
incorporation or organization)
  72-0542540
(I.R.S. employer
identification no.)
PHI Tech Services, Inc.
(Exact name of obligor as specified in its charter)
     
Louisiana
(State or other jurisdiction of
incorporation or organization)
  72-0835089
(I.R.S. employer
identification no.)
Air Evac Services, Inc.
(Exact name of obligor as specified in its charter)
     
Louisiana
(State or other jurisdiction of
incorporation or organization)
  72-1404705
(I.R.S. employer
identification no.)
PHI Air Medical, Inc.
(Exact name of obligor as specified in its charter)
     
Louisiana
(State or other jurisdiction of
incorporation or organization)
  72-1404703
(I.R.S. employer
identification no.)
Petroleum Helicopters International, Inc.
(Exact name of obligor as specified in its charter)
     
Louisiana
(State or other jurisdiction of
incorporation or organization)
  72-1443677
(I.R.S. employer
identification no.)
Helicopter Management, L.L.C.
(Exact name of obligor as specified in its charter)
     
Louisiana
(State or other jurisdiction of
incorporation or organization)
  03-0397562
(I.R.S. employer
identification no.)
Helicopter Leasing, L.L.C.
(Exact name of obligor as specified in its charter)
     
Louisiana
(State or other jurisdiction of
incorporation or organization)
  03-0397710
(I.R.S. employer
identification no.)
HELEX, L.L.C.
(Exact name of obligor as specified in its charter)
     
Florida
(State or other jurisdiction of
incorporation or organization)
  43-1991751
(I.R.S. employer
identification no.)
Sky Leasing, L.L.C.
(Exact name of obligor as specified in its charter)
     
Montana
(State or other jurisdiction of
incorporation or organization)
  61-1462015
(I.R.S. employer
identification no.)
     
2001 S.E. Evangeline Thruway    
Lafayette, Louisiana
(Address of principal executive offices)
  70508
(Zip code)
 
Senior Notes due 2013
(Title of the indenture securities)
 
 

 


 

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, D.C. 20219
 
   
Federal Reserve Bank
  San Francisco, California 94105
 
   
Federal Deposit Insurance Corporation
  Washington, D.C. 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 Trust Company, N.A. (Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121948).
 
  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. 333-121948).
 
  4.   A copy of the existing by-laws of the trustee. (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-121948).

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  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. 333-121948).
 
  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.

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SIGNATURE
     Pursuant to the requirements of the Act, the trustee, The Bank of New York 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 Jacksonville, and State of Florida, on the 10th day of October, 2006.
         
  THE BANK OF NEW YORK TRUST
COMPANY, N.A.
 
 
  By:   WILLIAM C. CARDOZO    
  Name: WILLIAM C. CARDOZO   
  Title:   VICE PRESIDENT   
 

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EXHIBIT 7
Consolidated Report of Condition of
THE BANK OF NEW YORK TRUST COMPANY, N.A.
of 700 South Flower Street, Suite 200, Los Angeles, CA 90017
     At the close of business June 30, 2006, 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
    3,885  
Interest-bearing balances
    0  
Securities:
       
Held-to-maturity securities
    63  
Available-for-sale securities
    64,252  
Federal funds sold and securities purchased under agreements to resell:
       
Federal funds sold
    49,300  
Securities purchased under agreements to resell
    115,000  
Loans and lease financing receivables:
       
Loans and leases held for sale
    0  
Loans and leases, net of unearned income
    0  
LESS: Allowance for loan and lease losses
    0  
Loans and leases, net of unearned income and allowance
    0  
Trading assets
    0  
Premises and fixed assets (including capitalized leases)
    3,897  
Other real estate owned
    0  
Investments in unconsolidated subsidiaries and associated companies
    0  
Not applicable
       
Intangible assets:
       
Goodwill
    267,487  
Other Intangible Assets
    15,747  
Other assets
    39,669  
 
     
Total assets
  $ 559,300  
 
     

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    Dollar Amounts  
    in Thousands  
LIABILITIES
       
 
       
Deposits:
       
In domestic offices
    2,420  
Noninterest-bearing
    2,420  
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)
    58,000  
Not applicable
       
Not applicable
       
Subordinated notes and debentures
    0  
Other liabilities
    79,825  
Total liabilities
    140,245  
 
     
Minority interest in consolidated subsidiaries
    0  
 
       
EQUITY CAPITAL
       
 
       
Perpetual preferred stock and related surplus
    0  
Common stock
    1,000  
Surplus (exclude all surplus related to preferred stock)
    321,520  
Retained earnings
    96,770  
Accumulated other comprehensive income
    -235  
Other equity capital components
    0  
 
     
Total equity capital
    419,055  
 
     
Total liabilities, minority interest, and equity capital (sum of items 21, 22, and 28)
    559,300  
 
     
     I, William J. Winkelmann, Vice President 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.
     William J. Winkelmann )          Vice President
     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.
                 
 
  Michael K. Klugman, President     )      
 
  Michael F. McFadden, MD     )     Directors (Trustees)
 
  Frank P. Sulzberger, Vice President     )      

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