EX-25.1 41 k12696exv25w1.txt STATEMENT OF ELIGIBILITY OF TRUSTEE 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)
Ann M. Forey U.S. Bank National Association 10 West Market Street Suite 1150 Indianapolis, IN 46204 (317) 264-2500 (Name, address and telephone number of agent for service) Titan International, Inc. (Issuer with respect to the Securities) Illinois 36-3228472 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.)
Titan International, Inc. 2701 Spruce Street Quincy, IL 62301 (Address of Principal Executive Offices) (Zip Code)
8% SENIOR UNSECURED NOTES DUE 2012 (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 December 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. 2 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 Indianapolis, Indiana on the 2nd of April, 2007. By: /s/ Ann M. Forey ------------------------------------ Ann M. Forey Vice President By: /s/ T. Scott Fesler --------------------------------- T. Scott Fesler Vice President 3 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: April 2, 2007 By: /s/ Ann M. Forey ------------------------------------ Ann M. Forey Vice President By: /s/ T.Scott Fesler ----------------------------------- T.Scott Fesler Vice President 4 EXHIBIT 7 U.S. BANK NATIONAL ASSOCIATION STATEMENT OF FINANCIAL CONDITION AS OF 12/31/2006 ($000'S)
12/31/2006 ------------ ASSETS Cash and Due From Depository Institutions $ 8,644,951 Securities 39,699,269 Federal Funds 3,512,083 Loans & Lease Financing Receivables 141,159,825 Fixed Assets 2,300,043 Intangible Assets 12,048,875 Other Assets 10,437,280 ------------ TOTAL ASSETS $217,802,326 LIABILITIES Deposits $135,903,121 Fed Funds 12,316,778 Treasury Demand Notes 0 Trading Liabilities 139,984 Other Borrowed Money 33,217,524 Acceptances 0 Subordinated Notes and Debentures 7,384,026 Other Liabilities 6,677,926 ------------ TOTAL LIABILITIES $195,639,359 EQUITY Minority Interest in Subsidiaries $ 1,544,842 Common and Preferred Stock 18,200 Surplus 11,976,937 Undivided Profits 8,622,988 ------------ TOTAL EQUITY CAPITAL $ 22,162,967 TOTAL LIABILITIES AND EQUITY CAPITAL $217,802,326
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/ Ann M. Forey -------------------------------- Vice President Date: April 2, 2007 5