EX-25.1 7 dex251.htm STRATEMENT OF ELIGIBILITY OF TRUSTEE ON FORM T-1 Stratement of Eligibility of Trustee on Form T-1

Exhibit 25.1

CONFORMED COPY

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)

HSBC Bank USA, National Association

(Exact name of trustee as specified in its charter)

 

N/A    20-1177241
(Jurisdiction of incorporation    (I.R.S. Employer
or organization if not a U.S.    Identification No.)
national bank)   
1201 Market Street, Ste 1001   
Wilmington, Delaware    19801
(Address of principal executive offices)    (Zip Code)

Kevin T. O’Brien, SVP

HSBC Bank USA, National Association

452 Fifth Avenue

New York, New York 10018-2706

Tel: (212) 525-1311

(Name, address and telephone number of agent for service)

AmeriCredit Corp.

(Exact name of obligor as specified in its charter)

 

Texas    75-2291093

(State or other jurisdiction of

incorporation or organization)

  

(I.R.S. Employer

Identification No.)

801 Cherry Street, Suite 3900   
Fort Worth, Texas    76102
(Address of principal executive offices)    (Zip Code)

8.50% Senior Notes due 2015

(Title of Indenture Securities)


General

Item 1. General Information.

Furnish the following information as to the trustee:

(a) Name and address of each examining or supervisory authority to which it is subject.

Comptroller of the Currency, New York, NY.

Federal Deposit Insurance Corporation, Washington, D.C.

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 3-15. Not Applicable


Item 16. List of Exhibits

 

Exhibit

        
T1A(i)    (1)   Copy of the Articles of Association of HSBC Bank USA, National Association.
T1A(ii)    (1)   Certificate of the Comptroller of the Currency dated July 1, 2004 as to the authority of HSBC Bank USA, National Association to commence business.
T1A(iii)    (2)   Certificate of Fiduciary Powers dated August 18, 2004 for HSBC Bank USA, National Association
T1A(iv)    (1)   Copy of the existing By-Laws of HSBC Bank USA, National Association.
T1A(v)      Not applicable.
T1A(vi)    (2)   Consent of HSBC Bank USA, National Association required by Section 321(b) of the Trust Indenture Act of 1939.
T1A(vii)      Copy of the latest report of condition of the trustee (March 31, 2007), published pursuant to law or the requirement of its supervisory or examining authority.
T1A(viii)      Not applicable.
T1A(ix)      Not applicable.

(1) Exhibits previously filed with the Securities and Exchange Commission with Registration No. 333-118523 and incorporated herein by reference thereto.
(2) Exhibits previously filed with the Securities and Exchange Commission with Registration No. 333-125197 and incorporated herein by reference thereto.


SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee, HSBC Bank USA, 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 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 23rd day of October, 2007.

 

HSBC BANK USA, NATIONAL ASSOCIATION
By:  

/s/ Andres E Serrano

  Andres E Serrano
  Vice President


Exhibit T1A (vii)

 

   Board of Governors of the Federal Reserve System
   OMB Number: 7100-0036
   Federal Deposit Insurance Corporation
   OMB Number: 3064-0052
   Office of the Comptroller of the Currency
   OMB Number: 1557-0081
Federal Financial Institutions Examination Council    Expires March 31, 2009
   Please refer to page i,    1
   Table of Contents, for   
   the required disclosure   
   of estimated burden.   
     

Consolidated Reports of Condition and Income for

A Bank With Domestic and Foreign Offices—FFIEC 031

 

Report at the close of business March 31, 2007

     (20040630)    
   (RCRI 9999)  

 

This report is required by law; 12 U.S.C. §324 (State member banks); 12 U.S.C. § 1817 (State nonmember banks); and 12 U.S.C. §161 (National banks).

NOTE: The Reports of Condition and Income must be signed by an authorized officer and the Report of Condition must be attested to by not less than two directors (trustees) for State nonmember banks and three directors for State member and National Banks.

 

I,       Clive Bucknall, Controller

Name and Title of Officer Authorized to Sign Report

Of the named bank do hereby declare that these Reports of Condition and Income (including the supporting schedules) 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 believe.

 

/s/ Joseph R. Simpson

Signature of Officer Authorized to Sign Report

5/04/07

Date of Signature

Submission of Reports

Each Bank must prepare its Reports of Condition and Income either:

 

(a) in electronic form and then file the computer data file directly with the banking agencies’ collection agent, Electronic Data System Corporation (EDS), by modem or computer diskette; or

 

b) in hard-copy (paper) form and arrange for another party to convert the paper report to automated for. That party (if other than EDS) must transmit the bank’s computer data file to EDS.

 

FDIC Certificate Number

   5        7        8        9        0    

(RCRI 9030)

This report form is to be filed by banks with branches and consolidated subsidiaries in U.S. territories and possessions, Edge or Agreement subsidiaries, foreign branches, consolidated foreign subsidiaries, or International Banking Facilities.

The Reports of Condition and Income are to be prepared in accordance with Federal regulatory authority instructions.

We, the undersigned directors (trustees), attest to the correctness of this Report of Condition (including the supporting schedules) 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.

 

/s/ Sal H. Alfieri

Director (Trustee)

 

/s/ Bernard J. Kennedy

Director (Trustee)

 

/s/ Martin Glynn

Director (Trustee)

For electronic filing assistance, contact EDS Call report Services, 2150 N. Prospect Ave., Milwaukee, WI 53202, telephone (800) 255-1571.

To fulfill the signature and attestation requirement for the Reports of Condition and Income for this report date, attach this signature page to the hard-copy f the completed report that the bank places in its files.


http://WWW.BANKING.US.HSBC.COM

Primary Internet Web Address of Bank (Home Page), if any (TEXT 4087) (Example: www.examplebank.com)

  

HSBC Bank USA, NATIONAL ASSOCIATION

Legal Title of Bank (TEXT 9010)

 

Wilmington

 

City (TEXT 9130)

 

DE                                                                     19801

 

State Abbrev. (TEXT 9200)            ZIP Code (TEXT 9220)

 


Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency

REPORT OF CONDITION

Consolidated domestic subsidiaries

HSBC Bank USA, National Association      of Buffalo   
Name of Bank      City   

in the state of New York, at the close of business March 31, 2007

 

          Thousands of dollars

ASSETS

     

Cash and balances due from depository institutions:

     

a. Non-interest-bearing balances currency and coin

        2,951,161.00

b. Interest-bearing balances

        3,386,323.00

Held-to-maturity securities

        2,847,179.00

Available-for-sale securities

        18,174,350.00

Federal funds sold and securities purchased under agreements to resell:

     

a. Federal funds sold in domestic offices

        0.00

b. Securities purchased under agreements to resell

        16,548,555.00

Loans and lease financing receivables:

     

Loans and leases held for sale

        5,308,314.00

Loans and leases net of unearned income

   $ 83,419,165.00   

LESS: Allowance for loan and lease losses

     861,662.00   

Loans and lease, net of unearned income, allowance, and reserve

      $ 82,557,503.00

Trading assets

        26,595,570.00

Premises and fixed assets

        540,107.00

Other real estate owned

        59,578.00

Investments in unconsolidated subsidiaries

        291,775.00

Customers’ liability to this bank on acceptances outstanding

        NA

Intangible assets: Goodwill

        2,111,113.00

Intangible assets: Other intangible assets

        531,123.00

Other assets

        7,106,517.00

Total assets

        169,010,168.00

LIABILITIES

     

Deposits:

     

In domestic offices

        80,879,473.00

Non-interest-bearing

     11,577,425.00   

Interest-bearing

     69,302,048.00   

In foreign offices

        29,109,335.00

Non-interest-bearing

     1,043,358.00   

Interest-bearing

     28,065,977.00   

Federal funds purchased and securities sold under agreements to repurchase:

     

a. Federal funds purchased in domestic offices

        1,131,900.00

b. Securities sold under agreements to repurchase

        749,271.00

Trading Liabilities

        14,100,770.00

Other borrowed money

        23,446,927.00

Bank’s liability on acceptances

        NA

Subordinated notes and debentures

        3,874,420.00

Other liabilities

        3,458,706.00

Total liabilities

        156,750,802.00

Minority Interests in consolidated Subsidiaries

        658.00

EQUITY CAPITAL

     

Perpetual preferred stock and related surplus

        0

Common Stock

        2,000

Surplus

        10,121,497.00

Retained earnings

        2,352,567.00

Accumulated other comprehensive income

        -217,356.00

Other equity capital components

        0

Total equity capital

        12,258,708.00

Total liabilities, minority interests and equity capital

        169,010,168.00