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EXHIBIT 25
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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)___________________
THE BANK OF NOVA SCOTIA TRUST COMPANY OF NEW YORK
(Exact name of trustee as specified in its charter)
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New York 00-0000000
(State of Incorporation (I.R.S. employer
If not a U.S. national bank) Identification number)
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Xxx Xxxxxxx Xxxxx
Xxx Xxxx, X.X. 00000
(Address of principal (Zip code)
Executive office)
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LES, INC.
(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.)
0000 Xxxxxxx Xxxxxx - Xxxxx 000
Xxxxxxxx, XX 00000
(Address of principal executive offices) (Postal Code)
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SENIOR SUBORDINATED NOTES DUE 2008
(Title of the indenture securities)
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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.
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
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
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 continued 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 in 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 March 1, 1998.
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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 24th day June, 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
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Xxx Xxxx xx Xxxx Xxxxxx Trust Company of New York
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Legal Title of Bank
New York
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City
N.Y. 10006
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State Zip Code
FDIC Certificate Number |__|__|__|__|__|
Consolidated Report of Condition for Insured Commercial
and State-Chartered Savings Banks for March 31, 1998
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
Dollar Amounts in Thousands C100
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Assets Mil Thou
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1. Cash and balances due from depository institutions:
a. Noninterest-bearing balances and currency and coin(1)(2) ............ RCON
0061 50
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b. Interest-bearing balances(3) ........................................ RCON -0-
0071
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2. Securities: RCON 1 774
a. Held-to-maturity securities (from Schedule RC-B, column A) .......... 1754
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b. Available-for-sale securities (from Schedule RC-B, column D) ........ RCON
1773 -0-
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3. Federal funds sold(4) and securities purchased under agreements to resell RCON
1350 1 350
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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 1.
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4. Loans and lease financing receivables:
a. Loans and leases, net of unearned income (from Schedule RC-C) ........
b. LESS: Allowance for loan and lease losses ............................
c. LESS: Allocated transfer risk reserve ................................
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d. Loans and leases, net of unearned income, allowance, and reserve
(item 4.a minus 4.b and 4.c) .........................................
RCON -0-
2125
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5. Trading assets .......................................................... RCON -0-
3545
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6. Premises and fixed assets (including capitalized leases ................. RCON
2145 12
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7. Other real estate owned (from Schedule RC-M) ............................ RCON
2150 -0-
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8. Investments in unconsolidated subsidiaries and associated companies (from RCON
Schedule RC-M) .......................................................... 2130 -0-
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9. Customers' liability to this bank on acceptances outstanding ............ RCON
2155 -0-
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10. Intangible assets (from Schedule RC-M) .................................. RCON
2143 -0-
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11. Other assets (from Schedule RC-F) ....................................... RCON
2160 115
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12. a. Total assets (sum of items 1 through 11) ............................. RCON 3 301
2170
b. Losses deferred pursuant to 12 U.S.C. 1823(j) ........................ RCON -0-
0306
c. Total assets and losses deferred pursuant to 12 U.S.C. 1823(j) (sum RCON 301
of items 12.a and 12.b) .............................................. 0307 3
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LIABILITIES
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13. Deposits:
a. In domestic offices (sum of totals of columns A and C from RCON
Schedule RC-E) ....................................................... 2200 1 021
(1) Noninterest-bearing(1) ...........................................
(2) Interest-bearing .................................................
b. In foreign offices, Edge and Agreement subsidiaries, and IBFs ........
(1) Noninterest-bearing ..............................................
(2) Interest-bearing .................................................
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(1) Includes total demand deposits and noninterest-bearing time and
savings deposits.
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14. Federal funds purchased(2) and securities sold under agreements to RCON
repurchase .............................................................. 2800 -0-
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15. a. Demand notes issued to the U.S. Treasury ............................. RCON
2840 -0-
b. Trading liabilities .................................................. RCON
3548 -0-
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16. Other borrowed money (includes mortgage indebtedness and obligations
under capitalized leases): ..............................................
a. With a remaining maturity of one year or less ........................ RCON
b. With a remaining maturity of more than one year through three years .. 2332 -0-
c. With a remaining maturity of more than three years ................... XXXX
X000 -0-
XXXX
X000 -0-
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17. Not applicable ..........................................................
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18. Bank's liability on acceptances executed and outstanding ................ RCON
2920 -0-
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19. Subordinated notes and debentures(3) .................................... RCON
3200 -0-
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20. Other liabilities (from Schedule RC-G) .................................. RCON
2930 46
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21. Total liabilities (sum of items 13 through 20) .......................... RCON
2948 1 067
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22. Not applicable
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EQUITY CAPITAL
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23. Perpetual preferred stock and related surplus ........................... RCON
3838 -0-
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24. Common stock ............................................................ RCON
3230 1 000
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25. Surplus (exclude all surplus related to preferred stock) ................ RCON
3839 1 000
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(2) Report "term federal funds purchased" in Schedule RC, item 16,
"other borrowed money."
(3) Includes limited-life preferred stock and related surplus.
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26. a. Undivided profits and capital reserves................................ RCON
3832 234
b. Net unrealized holding gains (losses) on available-for-sale securities RCON
8434 -0-
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27. Cumulative foreign currency translation adjustments......................
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28. a. Total equity capital (sum of items 23 through 27)..................... RCON
3210 2 234
b. Losses deferred pursuant to 12 U.S.C. 1823(j)......................... RCON
0306 -0-
c. Total equity capital and losses deferred pursuant to 12 U.S.C. 1823(j) RCON
(sum of items 28.a and 28.b).......................................... 3559 2 234
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29. Total liabilities, equity capital, and losses deferred pursuant to U.S.C.
1823(j) (sum of items 21 and 28.c).......................................
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RCON
2257 3 301
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Memorandum
To be reported only with the March Report of Condition.
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....................................................................
