EX-25.1 71 dex251.htm STATEMENT OF ELIGIBILITY AND QUALIFICATION OF TRUSTEE UNDER TRUST INDENTURE ACT Statement of Eligibility and Qualification of Trustee under Trust Indenture Act

Exhibit 25.1

 


FORM T-1

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

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

(State of incorporation

if not a U.S. national bank)

 

(I.R.S. employer

identification no.)

One Wall Street, New York, N.Y.   10286
(Address of principal executive offices)   (Zip code)

 


LYONDELL CHEMICAL COMPANY

(Exact name of obligor as specified in its charter)

 

Delaware   95-4160558

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

1221 McKinney Street, Suite 700

Houston, Texas

  77010
(Address of principal executive offices)   (Zip code)


LRC Holdings GP LLC

(Exact name of obligor as specified in its charter)

 

Delaware  

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

LRC Holdings LP LLC

(Exact name of obligor as specified in its charter)

 

Delaware  

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

 

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

LRP Holdings LP LLC

(Exact name of obligor as specified in its charter)

 

Delaware  

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

 

2


Lyondell Chemical Delaware Company

(Exact name of obligor as specified in its charter)

 

Delaware   51-0309094

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Chemical Nederland, Ltd.

(Exact name of obligor as specified in its charter)

 

Delaware   51-0110124

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Chemical Properties, L.P.

(Exact name of obligor as specified in its charter)

 

Delaware   23-2836105

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

 

3


Lyondell Chemical Technology 1 Inc.

(Exact name of obligor as specified in its charter)

 

Delaware

  56-2561588

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Chemical Technology 2 Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   74-3166679

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Chemical Technology 3 Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   74-3166682

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

 

4


Lyondell Chemical Technology 4 Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   56-2561594

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Chemical Technology 5 Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   65-1267805

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Chemical Technology 6 Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   51-0566155

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

 

5


Lyondell Chemical Technology 7 Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   74-3166683

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Chemical Technology 8 Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   74-3166686

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Chemical Technology, L.P.

(Exact name of obligor as specified in its charter)

 

Delaware   54-1613415

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

 

6


Lyondell Chemical Technology Management, Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   23-2631289

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Chimie France Corporation

(Exact name of obligor as specified in its charter)

 

Delaware   23-1976967

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

LYONDELL-CITGO Refining LP

(Exact name of obligor as specified in its charter)

 

Delaware   76-0395303

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

 

7


Lyondell France, Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   23-2341921

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Houston Refinery A Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   20-5408125

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Houston Refinery Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   20-5408334

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

 

8


Lyondell LP3 GP, LLC

(Exact name of obligor as specified in its charter)

 

Delaware   90-0249008

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell LP3 Partners, LP

(Exact name of obligor as specified in its charter)

 

Delaware   90-0249009

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell LP4 Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   76-0550480

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

 

9


Lyondell (Pelican) Petrochemical L.P.1, Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   95-4684078

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Petrochemical L.P. Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   52-2064335

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Refining Company LP

(Exact name of obligor as specified in its charter)

 

Delaware   76-0321158

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

 

10


Lyondell Refining GP, LLC

(Exact name of obligor as specified in its charter)

 

Delaware  

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Refining LP, LLC

(Exact name of obligor as specified in its charter)

 

Delaware   52-2158426

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

Lyondell Refining Partners, LP

(Exact name of obligor as specified in its charter)

 

Delaware   90-0249006

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

 

11


POSM Delaware, Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   51-0328228

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

Two Greenville Crossing

4001 Kennett Pike, Suite 238

Greenville, Delaware

  19807
(Address of principal executive offices)   (Zip code)

POSM II Properties Partnership, L.P.

(Exact name of obligor as specified in its charter)

 

Delaware   51-0328696

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

1221 McKinney Street, Suite 700

Houston, Texas

  77010 (Zip code)
(Address of principal executive offices)  

 


Senior Debt Securities

(Title of the indenture securities)

 


 

12


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.

 

  

 

Name

 

 

 

Address

 

  

Superintendent of Banks of the State of New York

  One State Street, New York, N.Y. 10004-1417, and Albany, N.Y. 12223

Federal Reserve Bank of New York

  33 Liberty Street, New York, N.Y. 10045

Federal Deposit Insurance Corporation

  Washington, D.C. 20429

New York Clearing House Association

  New York, New York 10005

 

  (b) Whether it is authorized to exercise corporate trust powers.

Yes.

 

2. Affiliations with Obligor.

If the obligor is an affiliate of the trustee, describe each such affiliation.

None.

 

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, Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121195.)

 

  4. A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-121195.)

 

13


  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. 333-106702.)

 

  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.

 

14


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 1st day of September, 2006.

 

THE BANK OF NEW YORK

By:

  /S/ CHERYL CLARKE
 

Name: CHERYL CLARKE

 

Title: VICE PRESIDENT

 

 

 

15


EXHIBIT 7

 


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, 2006, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act.

 

ASSETS    Dollar Amounts
In Thousands

Cash and balances due from depository institutions:

  

Noninterest-bearing balances and currency and coin

   3,372,000

Interest-bearing balances

   11,005,000

Securities:

  

Held-to-maturity securities

   2,269,000

Available-for-sale securities

   23,124,000

Federal funds sold and securities purchased under agreements to resell

  

Federal funds sold in domestic offices

   490,000

Securities purchased under agreements to resell

   252,000

Loans and lease financing receivables:

  

Loans and leases held for sale

   0

Loans and leases, net of unearned income

   36,722,000

LESS: Allowance for loan and lease losses

   414,000

Loans and leases, net of unearned income and allowance

   36,308,000

Trading assets

   5,770,000

Premises and fixed assets (including capitalized leases)

   848,000

Other real estate owned

   0

Investments in unconsolidated subsidiaries and associated companies

   302,000

Not applicable

  

Intangible assets:

  

Goodwill

   2,177,000

Other intangible assets

   750,000

Other assets

   7,196,000
    


Total assets

   93,863,000
    

LIABILITIES

  

Deposits:

  

In domestic offices

   40,014,000

Noninterest-bearing

   21,153,000

Interest-bearing

   18,861,000

In foreign offices, Edge and Agreement subsidiaries, and IBFs

   31,312,000

Noninterest-bearing

   286,000

Interest-bearing

   31,026,000

Federal funds purchased and securities sold under agreements to repurchase

  

Federal funds purchased in domestic offices

   839,000

Securities sold under agreements to repurchase

   396,000

Trading liabilities

   3,045,000

Other borrowed money:

  

(includes mortgage indebtedness and obligations under capitalized leases)

   1,670,000

Not applicable

  

Not applicable

  

Subordinated notes and debentures

   1,955,000

Other liabilities

   6,011,000
    

Total liabilities

   85,242,000
    

Minority interest in consolidated subsidiaries

   150,000

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

   0

Common stock

   1,135,000

Surplus (exclude all surplus related to preferred stock)

   2,112,000

Retained earnings

   5,444,000

Accumulated other comprehensive income

   -220,000

Other equity capital components

   0

Total equity capital

   8,471,000
    

Total liabilities, minority interest, and equity capital

   93,863,000
    


I, Thomas J. Mastro, Executive 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,

Executive 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