EX-25.1 8 h36914exv25w1.htm STATEMENT OF ELIGIBILITY ON FORM T-1 exv25w1
 

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)  
 
James Kowalski
U.S. Bank National Association
535 Griswold Street, Suite 550
Detroit, MI 48226
(313) 234-4716
(Name, address and telephone number of agent for service)
Tesoro Corporation
(Issuer with respect to the Securities)
           
  Delaware     86-0843596  
  (State or other jurisdiction of incorporation or organization)     (I.R.S. Employer Identification No.)  
           
 
           
  300 Concord Plaza Drive
San Antonio, Texas          
    78216  
  (Address of Principal Executive Offices)     (Zip Code)  
 
6-1/2% Senior Notes Due 2012
6-5/8% Senior Notes Due 2015
(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, 2006 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.
* Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005.

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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 Detroit, State of Michigan on the 16th of June, 2006.
         
     
  By:   /s/ James Kowalski    
    James Kowalski   
    Vice President   
 
         
By:
  /s/ Susan T. Payne    
 
       
 
  Susan T. Payne    
 
  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 16, 2006
         
     
  By:   /s/ James Kowalski    
    James Kowalski   
    Vice President   
 
         
By:
  /s/ Susan T. Payne    
 
       
 
  Susan T. Payne    
 
  Vice President    

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Exhibit 7
U.S. Bank National Association
Statement of Financial Condition
As of 3/31/2006
($000’s)
         
    3/31/2006  
Assets
       
Cash and Due From Depository Institutions
  $ 7,050,967  
Securities
    39,215,391  
Federal Funds
    3,114,744  
Loans & Lease Financing Receivables
    135,184,791  
Fixed Assets
    1,737,385  
Intangible Assets
    11,754,046  
Other Assets
    10,882,988  
 
     
Total Assets
  $ 208,940,312  
 
       
Liabilities
       
Deposits
  $ 132,810,195  
Fed Funds
    12,304,517  
Treasury Demand Notes
    0  
Trading Liabilities
    252,318  
Other Borrowed Money
    28,673,468  
Acceptances
    0  
Subordinated Notes and Debentures
    6,432,494  
Other Liabilities
    6,859,284  
 
     
Total Liabilities
  $ 187,332,276  
 
       
Equity
       
Minority Interest in Subsidiaries
  $ 1,029,155  
Common and Preferred Stock
    18,200  
Surplus
    11,804,040  
Undivided Profits
    8,756,641  
 
     
Total Equity Capital
  $ 21,608,036  
 
       
Total Liabilities and Equity Capital
  $ 208,940,312  
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/ James Kowalski    
 
       
 
  Vice President    
Date: June 16, 2006

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