EX-25.1 12 g23794exv25w1.htm EX-25.1 exv25w1
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) o
 
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)
 
Jack Ellerin
U.S. Bank National Association
1349 West Peachtree Street
Suite 1050
Atlanta, Georgia 30309
(404) 898-8830

(Name, address and telephone number of agent for service)
Gray Television, Inc.
(exact name of obligor as specified in its charter)
SEE TABLE OF ADDITIONAL OBLIGORS
     
Georgia   58-0285030
(State or other jurisdiction of incorporation or organization)   (I.RS. Employer Identification No.)
     
4370 Peachtree Road, N.E.    
Atlanta, Georgia   30319
(Address of principal executive offices)   (Zip Code)
 
10 1/2% Senior Secured Second Lien Notes due 2015
Guarantees of 10 1/2% Senior Secured Second Lien Notes due 2015

(Title of the indenture securities)
 
 

 


 

TABLE OF ADDITIONAL OBLIGORS
                         
    State or Other        
    Jurisdiction of   Primary Standard   IRS Employer
Exact Name of Registrant as Specified   Incorporation or   Industrial Classification   Identification
in its Charter(1)   Organization   Code Number   Number
 
WVLT-TV, Inc.
  Georgia     4833       58-2256206  
Gray Television Group, Inc.
  Delaware     4833       13-2982954  
Gray Television Licensee, LLC
  Nevada     4833       51-0376603  
 
(1)   The address and telephone number of each of the additional obligors is: 4370 Peachtree Road, NE, Atlanta, Georgia 30319; telephone (404) 504-9828.

 


 

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.
 
      Federal Deposit Insurance Company
Washington, D.C.
 
      The Board of Governors of the Federal Reserve System
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.–14.    Items 3 – 14 are not applicable because, to the best of the knowledge of U.S. Bank National Association (the “Trustee”) the obligor is not in default under any indenture under which the Trustee acts as trustee.
 
Item 15.    Item 15 is not applicable because the Trustee is not a foreign trustee.
 
Item 16.    List of Exhibits.
 
    List below all exhibits filed as a part of this statement of eligibility; provided that exhibits identified in parentheses are filed with the Commission and are incorporated herein by reference as exhibits hereto pursuant to Rule 7a-29 under the Trust Indenture Act of 1939, as amended, and 17 C.F.R. 229.10(d).
  1.   A copy of the articles of association of the Trustee as now in effect. (Exhibit 25.1 to Amendment No. 2 to Form S-4, Registration Number 333-128217, filed by Revlon Consumer Products Corp.)
 
  2.   A copy of the certificate of authority of the Trustee to commence business, is contained in the articles of association referred to in Paragraph 1 above.
 
  3.   A copy of the authorization of the Trustee to exercise corporate trust powers. (Exhibit 25.1 to Form S-3ASR, Registration Number 333-155592, filed by ONEOK, Inc.)

 


 

  4.   A copy of the existing by-laws of the Trustee as now in effect. (Exhibit 4 to Exhibit 25.1 to Form S-3, Registration Number 333-160020, filed by The Phoenix Companies, Inc.)
 
  5.   A copy of each indenture referred to in Item 4, if the obligor is in default.
 
      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.   A copy of the latest report of condition of the Trustee published pursuant to law or the requirements of its supervising or examining authority as of the close of business on March 31, 2010, attached as Exhibit 7.

 


 

SIGNATURE
     Pursuant to the requirements of the Trust Indenture Act of 1939, 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 Atlanta, State of Georgia, on the 23rd day of June, 2010.
         
  U.S. BANK NATIONAL ASSOCIATION
 
 
  By:   /s/ Jack Ellerin   
    Jack Ellerin   
    Vice President   

 


 

Exhibit 6
CONSENT OF TRUSTEE
     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 23, 2010
         
  U.S. BANK NATIONAL ASSOCIATION
 
 
  By:   /s/ Jack Ellerin   
    Jack Ellerin   
    Vice President   

 


 

Exhibit 7
REPORT OF CONDITION
U.S. Bank National Association
Statement of Financial Condition
As of March 31, 2010
(000’s)
         
    03/31/2010  
ASSETS
       
Cash and balances due from depository institutions
  $ 8,396,049  
Securities
    45,269,095  
Federal funds sold and securities purchased under agreements to resell
    3,774,651  
Loans and lease financing receivables
    180,918,939  
Trading assets
    1,093,896  
Premises and fixed assets (including capitalized leases)
    2,220,060  
Other real estate owned
    1,726,653  
Investments in unconsolidated subsidiaries and associated companies
    67,633  
Intangible assets
    13,355,160  
Other assets
    20,687,148  
 
     
 
       
Total assets
  $ 277,509,284  
 
     
 
       
LIABILITIES
       
Deposits
  $ 194,167,405  
Federal funds purchased and securities sold under agreements to repurchase
    9,849,249  
Trading liabilities
    362,519  
Other borrowed money
    31,906,386  
Subordinated notes and debentures
    7,629,967  
Other liabilities
    6,648,045  
 
     
Total liabilities
  $ 250,563,571  
 
       
EQUITY CAPITAL
       
Common stock
  $ 18,200  
Surplus
    12,642,020  
Retained earnings
    12,673,897  
Noncontrolling (minority) interests in consolidated subsidiaries
    1,611,596  
 
     
Total equity capital
  $ 26,945,713  
 
     
 
       
Total liabilities and equity capital
  $ 277,509,284