EX-25 3 j17025exv25.htm EX-25: STATEMENT OF ELIGIBILITY OF TRUSTEE EX-25
 

Exhibit 25
 
 
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)
 
MYLAN LABORATORIES INC.
(Exact name of obligor as specified in its charter)
     
Pennsylvania   25-1211621
(State or other jurisdiction   (I.R.S. Employer
of incorporation or organization)   Identification No.)
     
1500 Corporate Drive    
Canonsburg, Pennsylvania   15317
(Address of principal executive offices)   (Zip code)
 
5.750% Senior Notes Due 2010
6.375% Senior Notes Due 2015
(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 and Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637.)
4.
  -   A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 filed as Exhibit 25(a) to Registration Statement No. 333-102200.)
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.

ii

 

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 17th day of November, 2005.
         
  THE BANK OF NEW YORK
 		  
  By:   /s/ Mary LaGumina  
    Name:   Mary LaGumina   
    Title:   Vice President   

iii

 

         
EXHIBIT 7
(Page 1 of 3)
 

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 June 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  
ASSETS   In Thousands  
Cash and balances due from depository institutions:
        
Noninterest-bearing balances and currency and coin
   $ 2,753,000  
Interest-bearing balances
     6,045,000  
Securities:
        
Held-to-maturity securities
     2,183,000  
Available-for-sale securities
     21,741,000  
Federal funds sold and securities purchased under agreements to resell
        
Federal funds sold in domestic offices
     5,486,000  
Securities purchased under agreements to resell
     192,000  
Loans and lease financing receivables:
        
Loans and leases held for sale
     0  
Loans and leases, net of unearned income
     32,953,000  
LESS: Allowance for loan and lease losses
     558,000  
Loans and leases, net of unearned income and allowance
     32,395,000  
Trading Assets
     6,114,000  
Premises and fixed assets (including capitalized leases)
     812,000  
Other real estate owned
     0  
Investments in unconsolidated subsidiaries and associated companies
     278,000  
Customers’ liability to this bank on acceptances outstanding
     68,000  
Intangible assets:
        
Goodwill
     2,039,000  
Other intangible assets
     736,000  
Other assets
     5,237,000  
       
Total assets
   $ 86,079,000  
       

 

 

EXHIBIT 7
(Page 2 of 3)
         
LIABILITIES
        
Deposits:
        
In domestic offices
   $ 38,768,000  
Noninterest-bearing
     18,417,000  
Interest-bearing
     20,351,000  
In foreign offices, Edge and Agreement subsidiaries, and IBFs
     26,246,000  
Noninterest-bearing
     462,000  
Interest-bearing
     25,784,000  
Federal funds purchased and securities sold under agreements to repurchase
        
Federal funds purchased in domestic offices
     1,224,000  
Securities sold under agreements to repurchase
     126,000  
Trading liabilities
     2,927,000  
Other borrowed money:
        
(includes mortgage indebtedness and obligations under capitalized leases)
     1,245,000  
Not applicable
        
Bank’s liability on acceptances executed and outstanding
     69,000  
Subordinated notes and debentures
     1,440,000  
Other liabilities
     5,976,000  
       
Total liabilities
   $ 78,021,000  
       
Minority interest in consolidated subsidiaries
     139,000  
EQUITY CAPITAL
        
Perpetual preferred stock and related surplus
     0  
Common stock
     1,135,000  
Surplus (exclude all surplus related to preferred stock)
     2,089,000  
Retained earnings
     4,716,000  
Accumulated other comprehensive income
     -21,000  
Other equity capital components
     0  
Total equity capital
     7,919,000  
       
Total liabilities, minority interest, and equity capital
   $ 86,079,000  
       

 

 

EXHIBIT 7
(Page 3 of 3)
     I, Thomas J. Mastro, Senior 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,
Senior 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
Alan R. Griffith