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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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)
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THE BANK OF NOVA SCOTIA TRUST COMPANY OF NEW YORK
(Exact name of trustee as specified in its charter)
New York 00-0000000
(State of Incorporation (I.R.S. employer
if not a U.S. national bank) Identification number)
Xxx Xxxxxxx Xxxxx 00000
Xxx Xxxx, X.X. (Xxx code)
(Address of principal
Executive office)
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CENDANT CORPORATION
(Exact name of obligor as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation or organization)
00-0000000
(I.R.S. employer identification no.)
0 Xxxxxx Xxx
Xxxxxxxxxx, X.X. 00000
(Adderss of principal executive offices)(Postal Code)
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CONVERTIBLE AND NON-CONVERTIBLE
SENIOR DEBT SECURITIES
(Title of the indenture securities)
-2-
Item 1. General information
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Furnish the following information as to the trustee:
(a) Name and address of each examining or supervising authority to
which it is subject.
Federal Reserve Bank of New York
00 Xxxxxxx Xxxxxx
Xxx Xxxx, X.X. 00000
State of New York Banking Department
State House, Albany, N.Y.
(b) Whether it is authorized to exercise corporate trust powers.
The Trustee is authorized to exercise corporate trust powers.
Item 2. Affiliation with the Obligor.
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If the obligor is an affiliate of the trustee, describe each such
affiliation.
The obligor is not an affiliate of the Trustee.
Item 16. List of Exhibits.
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List below all exhibits filed as part of this statement of
eligibility.
Exhibit 1 - Copy of the Organization Certificate of the Trustee as now
in effect. (Exhibit 1 to T-1 to Registration Statement
No. 333-6688).
Exhibit 2 - Copy of the Certificate of Authority of the Trustee to
commerce business. (Exhibit 2 to T-1 to Registration
Statement No. 333-6688).
Exhibit 3 - None; authorization to exercise corporate trust powers is
contained in the documents identified above as Exhibit 1
and 2.
Exhibit 4 - Copy of the existing By-Laws of the Trustee. (Exhibit 4
to T-1 to Registration Statement No. 333-6688).
Exhibit 5 - No Indenture referred to Item 4.
Exhibit 6 - The consent of the Trustee required by Section 321 (b)
of the Trust Indenture Act of 1939. (Exhibit 6 to T-1 to
Registration Statement No. 333-27685).
Exhibit 7 - Copy of the latest Report of Condition of the Trustee as
of December 31, 1997.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the
Trustee, The Bank of Nova Scotia Trust Company 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 3rd day of April, 1998.
THE BANK OF NOVA SCOTIA TRUST
COMPANY OF NEW YORK
By: /s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
Vice President
FFIEC 034
Page RC-1
The Bank of Nova Scotia Trust Company of New York
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Legal Title of Bank
New York
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Xxxx
Xxx Xxxx 00000
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State Zip Code
FDIC Certificate Number |_|_|_|_|_|
CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL
AND STATE-CHARTERED SAVINGS BANKS FOR DECEMBER 31, 1997
ALL SCHEDULES ARE TO BE REPORTED IN THOUSANDS OF DOLLARS. UNLESS OTHERWISE
INDICATED, REPORT THE AMOUNT OUTSTANDING AS OF THE LAST BUSINESS DAY OF THE
QUARTER.
SCHEDULE RC-BALANCE SHEET
C100
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DOLLAR AMOUNTS IN THOUSANDS MIL THOU
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ASSETS
1. Cash and balances due from depository institutions:
a. Noninterest-bearing balances and currency and coin(1)(2) ............................................. RCON 645 1.a.
0061
b. Interest-bearing balances(3) ......................................................................... RCON 0 1.b.
0071
2. Securities:
a. Held-to-maturity securities (from Schedule RC-B, column A) ........................................... RCON 1 877 2.a.
1754
b. Available-for-sale securities (from Schedule RC-B, column D) ......................................... RCON 0 2.b.
1773
3. Federal funds sold(4) and securities purchased under agreements to resell ............................... RCON 2 500 3.
1350
4. Loans and lease financing receivables:
a. Loans and leases, net of unearned income (from Schedule RC-C) .................... RCON 4.a.
2122
b. LESS: Allowance for loan and lease losses ......................................... RCON 4.b.
3123
c. LESS: Allocated transfer risk reserve ............................................. RCON 4.c.
3128
d. Loans and leases, net of unearned income, allowance, and reserve (item 4.a
minus 4.b and 4.c) ................................................................................... RCON 0 4.d.
2125
5. Trading assets .......................................................................................... RCON 0 5.
3545
6. Premises and fixed assets (including capitalized leases) ................................................ RCON 12 6.
2145
7. Other real estate owned (from Schedule RC-M) ............................................................ RCON 0 7.
2150
8. Investments in unconsolidated subsidiaries and associated companies (from Schedule RC-M) ................ RCON 0 8.
2130
9. Customers' liability to this bank on acceptances outstanding ............................................ RCON 0 9.
2155
10. Intangible assets (from Schedule RC-M) .................................................................. RCON 0 10.
2143
11. Other assets (from Schedule RC-F) ....................................................................... RCON 117 11.
2160
12. a. Total assets (sum of items 1 through 11) ............................................................. RCON 5 151 12.a.
2170
b. Losses deferred pursuant to 12 U.S.C. 1823(j) ........................................................ RCON 0 12.b.
0306
c. Total assets and losses deferred pursuant to 12 U.S.C. 1823(j) (sum of items 12.a and 12.b) .......... RCON 5 151 12.c
0307
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(1) Includes cash items in process of collection and unposted debits.
(2) The amount reported in this item must be greater than or equal to the sum
of Schedule RC-M, items 3.a and 3.b.
(3) Includes time certificates of deposit not held for trading.
(4) Report "term federal funds sold" in Schedule RC, item 4.a. "Loans and
leases, net of unearned income," and in Schedule RC-C, part I.
FFIEC 034
Page RC-2
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DOLLAR AMOUNTS IN THOUSANDS MIL THOU
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LIABILITIES
13. Deposits:
a. In domestic offices (sum of totals of columns A and C from Schedule RC-E)......................... RCON 2 915 13.a.
2200
(1) Noninterest-bearing(1)..........................................................RCON 2 059 13.a.(1)
6631
(2) Interest-bearing ...............................................................RCON 856 13.a.(2)
6636
b. In foreign offices, Edge and Agreement subsidiaries, and IBFs ....................................
(1) Noninterest-bearing ..........................................................................
(2) Interest-bearing .............................................................................
14. Federal funds purchased(3) and securities sold under agreements to repurchase........................ RCON 0 14.
2800
15. a. Demand notes issued to the U.S. Treasury ......................................................... RCON 0 15.a.
2840
b. Trading liabilities .............................................................................. RCON 0 15.b.
3548
16. Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases):
a. With a remaining maturity of one year or less .................................................... RCON 0 16.a.
2332
b. With a remaining maturity of more than one year through three years .............................. RCON 0 16.b.
A547
c. With a remaining maturity of more than three years ............................................... RCON 0 16.c
A548
17. Not applicable
18. Bank's liability on acceptances executed and outstanding............................................. RCON 0 18.
2920
19. Subordinated notes and debentures(3)................................................................. RCON 0 19.
3200
20. Other liabilities (from Schedule RC-G)............................................................... RCON 88 20.
2930
21. Total liabilities (sum of items 13 through 20)....................................................... RCON 3 003 21.
2948
22. Not applicable
EQUITY CAPITAL
23. Perpetual preferred stock and related surplus........................................................ RCON 0 23.
3838
24. Common stock......................................................................................... RCON 1 000 24.
3230
25. Surplus (exclude all surplus related to preferred stock)............................................. RCON 1 000 25.
3839
26. a. Undivided profits and capital reserves............................................................ RCON 148 26.a.
3632
b. Net unrealized holding gains (losses) on available-for-sale securities............................ RCON 0 26.b.
8434
27. Cumulative foreign currency translation adjustments..................................................
28. a. Total equity capital (sum of items 23 through 27)................................................. RCON 2 148 28.a.
3210
b. Losses deferred pursuant to 12 U.S.C. 1823(j)..................................................... RCON 0 28.b.
0306
c. Total equity capital and losses deferred pursuant to 12 U.S.C. 1823(j) (sum of items 28.a
and 28.b)......................................................................................... RCON 2 148 28.c
3559
29. Total liabilities, equity capital, and losses deferred pursuant to 12 U.S.C. 1823(j)
(sum of items 21 and 28.c)........................................................................... RCON 5 151 29.
2257
Memorandum
To be reported only with the March Report of Condition.
Number
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1. Indicate in the box at the right the number of the statement
below that best describes the most comprehensive level of
auditing work performed for the bank by independent external
auditors as of any date during 1996.........................RCON M.1.
6724
1 = Independent audit of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm which
submits a report on the bank
2 = Independent audit of the bank's parent holding company conducted in
accordance with generally accepted auditing standards by a certified
public accounting firm which submits a report on the consolidated holding
company (but not on the bank separately)
3 = Directors' examination of the bank conducted in accordance with
generally accepted auditing standards by a certified public accounting
firm (may be required by state chartering authority)
4 = Directors' examination of the bank performed by other external auditors
(may be required by state chartering authority)
5 = Review of the bank's financial statements by external auditors
6 = Compilation of the bank's financial statements by external auditors
7 = Other audit procedures (excluding tax preparation work)
8 = No external audit work
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(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.
(2) Report "term federal funds purchased" in Schedule RC, Item 16, "Other
borrowed money."
(3) Includes limited-life preferred stock and related surplus.
