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SECURITIES AND EXCHANGE COMMISSION
FORM T-1
XXXXXXXXXX, X.X. 00000
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STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
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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 00-0000000
(State of incorporation (I.R.S. employer
if not a U.S. national bank) identification
no.)
XXX XXXX XXXXXX, XXX XXXX, 00000
N.Y.
(Address of principal (Zip code)
executive offices)
YORK POWER FUNDING (CAYMAN) LIMITED
(Exact name of obligor as specified in its charter)
CAYMAN ISLANDS 00-0000000
(State or other jurisdiction (I.R.S. employer
of identification
incorporation or organization) no.)
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YORK POWER FUNDING (CAYMAN) LIMITED
c/o Queensgate SPV Services Limited
X.X. Xxx 0000 XX, Xxxxxxx Xxxxxx, 0(xx) Floor
Crewe Road
Grand Cayman, Cayman Islands
(Address of principal executive offices)
(Zip code)
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12% Series A Secured Bonds due October 30, 2007
(Title of the indenture securities)
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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.
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NAME ADDRESS
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Superintendent of Banks of the State of 0 Xxxxxx Xxxxxx, Xxx Xxxx,
Xxx Xxxx N.Y. 10006, and Albany, N.Y. 00000
Xxxxxxx Xxxxxxx Xxxx xx Xxx Xxxx 00 Xxxxxxx Xxxxx, Xxx Xxxx,
X.X. 00000
Federal Deposit Insurance Corporation Washington, D.C. 20429
New York Clearing House Association Xxx Xxxx, Xxx Xxxx 00000
(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 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 with Registration Statement No. 33-31019.)
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.
1
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 9th day of December, 1998.
THE BANK OF NEW YORK
By: /S/ XXXXXX X. XXXXXX
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Name: Xxxxxx X. Xxxxxx
Title: Assistant Vice President
2
EXHIBIT 6
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust Indenture Act of
1939 in connection with the proposed issue of 12% Series A Senior Secured Bonds
due 2007 by York Power Funding (Cayman) Limited, we hereby consent that reports
of examinations by Federal, State, Territorial, or District authorities may be
furnished by such authorities to the Securities and Exchange Commission upon
request therefor.
THE BANK OF NEW YORK
By: /s/ XXXXXX X. XXXXXX
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Name: Xxxxxx X. Xxxxxx
Title: Assistant Vice President
Dated: December 7, 1998
EXHIBIT 7
CONSOLIDATED REPORT OF CONDITION OF
THE BANK OF NEW YORK
OF 00 XXXX XXXXXX, XXX XXXX, X.X. 00000
AND FOREIGN AND DOMESTIC SUBSIDIARIES,
a member of the Federal Reserve System, at the close of business June 30, 1998,
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
IN THOUSANDS
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ASSETS
Cash and balances due from depository institutions:
Noninterest-bearing balances and currency and coin.............................................. $ 7,301,241
Interest-bearing balances....................................................................... 1,385,944
Securities:
Held-to-maturity securities..................................................................... 1,000,737
Available-for-sale securities................................................................... 4,240,655
Federal funds sold and Securities purchased under agreements to resell............................ 971,453
Loans and lease financing receivables:
Loans and leases, net of unearned income........................................................ 38,788.269
LESS: Allowance for loan and lease losses....................................................... 632,875
LESS: Allocated transfer risk reserve........................................................... 0
Loans and leases, net of unearned income, allowance, and reserve................................ 38,155,394
Assets held in trading accounts................................................................... 1,307,562
Premises and fixed assets (including capitalized leases).......................................... 670,445
Other real estate owned........................................................................... 13,598
Investments in unconsolidated subsidiaries and associated companies............................... 215,024
Customers' liability to this bank on acceptances outstanding...................................... 974,237
Intangible assets................................................................................. 1,102,625
Other assets...................................................................................... 1,944,777
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Total assets...................................................................................... $ 59,283,692
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LIABILITIES
Deposits:
In domestic offices............................................................................. $ 26,930,258
Noninterest-bearing............................................................................. 11,579.390
Interest-bearing................................................................................ 15,350,868
In foreign offices, Edge and Agreement subsidiaries, and IBFs................................... 16,117,854
Noninterest-bearing............................................................................. 187,464
Interest-bearing................................................................................ 15,930,390
Federal funds purchased and Securities sold under agreements to repurchase........................ 2,170,238
Demand notes issued to the U.S.Treasury........................................................... 300,000
Trading liabilities............................................................................... 1,310,867
Other borrowed money:
With remaining maturity of one year or less..................................................... 2,549,479
With remaining maturity of more than one year through three years............................... 0
With remaining maturity of more than three years................................................ 46,654
Bank's liability on acceptances executed and outstanding.......................................... 983,398
Subordinated notes and debentures................................................................. 1,314,000
Other liabilities................................................................................. 2,295,520
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Total liabilities................................................................................. 54,018,268
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DOLLAR AMOUNTS
IN THOUSANDS
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EQUITY CAPITAL
Common stock...................................................................................... 1,135,284
Surplus........................................................................................... 731,319
Undivided profits and capital reserves............................................................ 3,385,227
Net unrealized holding gains (losses) on available-for-sale securities............................ 51,233
Cumulative foreign currency translation adjustments............................................... (37,639)
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Total equity capital.............................................................................. 5,265,424
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Total liabilities and equity capital.............................................................. $ 59,283,692
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I, Xxxxxx X. Xxxxxxx, Senior Vice President and Comptroller of the above-named
bank do hereby declare that this Report of Condition has been prepared in
conformance with the instructions issued by the Board of Governors of the
Federal Reserve System and is true to the best of my knowledge and belief.
Xxxxxx X. Xxxxxxx
We, the undersigned directors, attest to the correctness of this Report of
Condition 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 Board of Governors of the Federal Reserve System and is true and
correct.
X. Xxxxxx Xxxxx
Xxxxxx A. Renyi Directors
Xxxx X. Xxxxxxxx ]
