EX-25.3 9 s002426x4_ex25-3.htm EXHIBIT 25.3

Exhibit 25.3

UNITED STATES
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)

WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)

A National Banking Association
94-1347393
(Jurisdiction of incorporation or organization if not a U.S. national bank)
(I.R.S. Employer Identification No.)

101 North Phillips Avenue
Sioux Falls, South Dakota
57104
(Address of principal executive offices)
(Zip code)

Wells Fargo & Company
Law Department, Trust Section
MAC N9305-175
Sixth Street and Marquette Avenue, 17th Floor
Minneapolis, Minnesota 55479
(612) 667-4608
(Name, address and telephone number of agent for service)
 

 
WESTINGHOUSE AIR BRAKE TECHNOLOGIES
CORPORATION
 (Exact name of obligor as specified in its charter)

SEE TABLE OF ADDITIONAL REGISTRANTS

Delaware
25-1615902
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)

1001 Air Brake Avenue
Wilmerding, Pennsylvania
15148-0001
(Address of principal executive offices)
(Zip code)
 

 
Subordinated Debt Securities
(Title of the indenture securities)
 



TABLE OF ADDITIONAL REGISTRANTS
 
Exact Name of Registrant as Specified in its
Charter and Address, Including Zip Code, and
Telephone Number, Including Area Code, of
Registrant’s Principal Executive Offices*
 
State or Other
Jurisdiction
Of Incorporation
 
I.R.S. Employer
Identification Number
 
 
Primary Standard
Industrial
Classification Code
Aero Transportation Products, Inc.
 
Missouri
 
43-1167773
 
3743
Barber Steel Foundry Corp.
 
Delaware
 
46-3009129
 
3743
Durox Company
 
Ohio
 
34-0898628
 
3743
G&B Specialties, Inc.
 
Pennsylvania
 
22-2221935
 
3743
Longwood Elastomers, Inc.
 
Virginia
 
54-1604003
 
3743
Longwood Industries, Inc.
 
New Jersey
 
22-3136502
 
3743
Longwood International, Inc.
 
Delaware
 
22-3768905
 
3743
MotivePower, Inc.
 
Delaware
 
23-2872369
 
3743
Railroad Controls, L.P.
 
Texas
 
02-0538075
 
3743
Railroad Friction Products Corporation
 
Delaware
 
25-1112152
 
3743
RCL, L.L.C.
 
Tennessee
 
47-4406932
 
3743
RFPC Holding Corp.
 
Delaware
 
51-0345158
 
3743
Ricon Corp.
 
California
 
95-2746855
 
3743
Schaefer Equipment, Inc.
 
Ohio
 
25-0777620
 
3743
Standard Car Truck Company
 
Delaware
 
36-2704499
 
3743
Thermal Transfer Acquisition Corporation
 
Delaware
 
82-0789168
 
3743
TransTech of South Carolina, Inc.
 
Delaware
 
57-1015489
 
3743
Turbonetics Holdings, Inc.
 
Delaware
 
20-8101309
 
3743
Wabtec Holding Corp.
 
Delaware
 
23-2870660
 
3743
Wabtec International, Inc.
 
Delaware
 
20-5818808
 
3743
Wabtec Railway Electronics Holdings, LLC
 
Delaware
 
25-1615902
 
3743
Wabtec Railway Electronics, Inc.
 
Delaware
 
47-2275131
 
3743
Wabtec Railway Electronics Manufacturing, Inc.
 
Delaware
 
47-2284104
 
3743
Workhorse Rail, LLC
 
Pennsylvania
 
77-0635262
 
3743
Xorail, Inc.
 
Florida
 
47-0724077
 
3743
Young Touchstone Company
 
Wisconsin
 
39-0725170
 
3743

*
The address, including zip code, and telephone number, including area code, of each additional registrant is c/o David L. DeNinno, Esq., Executive Vice President, General Counsel and Secretary, Westinghouse Air Brake Technologies Corporation, 1001 Air Brake Avenue, Wilmerding, Pennsylvania 15148-0001, telephone number (412) 825-1000.  The name, address, including zip code, and telephone number, including area code, of the agent for service for each additional registrant is David L. DeNinno, Esq., Executive Vice President, General Counsel and Secretary, Westinghouse Air Brake Technologies Corporation, 1001 Air Brake Avenue, Wilmerding, Pennsylvania 15148-0001, telephone number (412) 825-1000.


 
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
Treasury Department
Washington, D.C.

Federal Deposit Insurance Corporation
Washington, D.C.

Federal Reserve Bank of San Francisco
San Francisco, California 94120

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

The trustee is authorized to exercise corporate trust powers.
 

Item 2.
Affiliations with Obligor.  If the obligor is an affiliate of the trustee, describe each such affiliation.

None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.
 

Item 15. 
Foreign Trustee.   Not applicable.

Item 16. 
List of Exhibits.   List below all exhibits filed as a part of this Statement of Eligibility.
 
 
Exhibit 1.
A copy of the Articles of Association of the trustee now in effect.*
     
 
Exhibit 2.
A copy of the Comptroller of the Currency Certificate of Corporate Existence for Wells Fargo Bank, National Association, dated January 14, 2015.*
     
 
Exhibit 3.
A copy of the Comptroller of the Currency Certification of Fiduciary Powers for Wells Fargo Bank, National Association, dated January 6, 2014.*
     
 
Exhibit 4.
Copy of By-laws of the trustee as now in effect.*
     
 
Exhibit 5.
Not applicable.
     
 
Exhibit 6.
The consent of the trustee required by Section 321(b) of the Act.
     
 
Exhibit 7.
A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
     
 
Exhibit 8.
Not applicable.
     
 
Exhibit 9.
Not applicable.

*  Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit to the Filing 305B2 dated March 13, 2015 of file number 333-190926.
 

SIGNATURE
 
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo 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 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 20th day of August, 2018.
 
 
WELLS FARGO BANK, NATIONAL ASSOCIATION
   
 
/s/ Raymond Delli Colli
 
 
Raymond Delli Colli
 
 
Vice President
 
 

EXHIBIT 6

August 20, 2018

Securities and Exchange Commission
Washington, D.C.  20549

Gentlemen:

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.
 
 
Very truly yours,
   
 
WELLS FARGO BANK, NATIONAL ASSOCIATION
   
 
/s/ Raymond Delli Colli
 
Raymond Delli Colli
 
Vice President
 

Exhibit 7

Consolidated Report of Condition of

Wells Fargo Bank National Association
of 101 North Phillips Avenue, Sioux Falls, SD 57104
And Foreign and Domestic Subsidiaries,
at the close of business June 30, 2018, filed in accordance with 12 U.S.C. §161 for National Banks.

         
Dollar Amounts
In Millions
 
ASSETS
           
Cash and balances due from depository institutions:
           
Noninterest-bearing balances and currency and coin
       
$
19,803
 
Interest-bearing balances
         
143,123
 
Securities:
             
Held-to-maturity securities
         
144,098
 
Available-for-sale securities
         
250,007
 
Equity Securities with readily determinable fair value not held for trading
         
94
 
               
Federal funds sold and securities purchased under agreements to resell:
             
Federal funds sold in domestic offices
         
79
 
Securities purchased under agreements to resell
         
34,203
 
Loans and lease financing receivables:
             
Loans and leases held for sale
         
13,308
 
Loans and leases, net of unearned income
   
918,993
         
LESS: Allowance for loan and lease losses
   
9,864
       
Loans and leases, net of unearned income and allowance
           
909,129
 
Trading Assets
           
44,974
 
Premises and fixed assets (including capitalized leases)
           
8,073
 
Other real estate owned
           
502
Investments in unconsolidated subsidiaries and associated companies
           
12,118
 
Direct and indirect investments in real estate ventures
           
163
 
Intangible assets
           
40,514
 
Other assets
           
54,889
 
                 
Total assets
         
$
1,675,077
 
                 
LIABILITIES
               
Deposits:
               
In domestic offices
         
$
1,269,998
 
Noninterest-bearing
   
415,406
         
Interest-bearing
   
854,592
         
In foreign offices, Edge and Agreement subsidiaries, and IBFs
           
52,292
 
Noninterest-bearing
   
897
         
Interest-bearing
   
51,395
         
Federal funds purchased and securities sold under agreements to repurchase:
               
Federal funds purchased in domestic offices
           
8,421
 
Securities sold under agreements to repurchase
           
6,394
 
 

   
Dollar Amounts
In Millions
 
       
Trading liabilities
   
11,024
 
Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)
   
116,305
 
Subordinated notes and debentures
   
11,749
 
Other liabilities
   
34,525
 
         
Total liabilities
 
$
1,510,708
 
         
EQUITY CAPITAL
       
Perpetual preferred stock and related surplus
   
0
 
Common stock
   
519
 
Surplus (exclude all surplus related to preferred stock)
   
112,567
 
Retained earnings
   
54,424
 
Accumulated other comprehensive income
   
-3,482
 
Other equity capital components
   
0
 
         
Total bank equity capital
   
164,028
 
Noncontrolling (minority) interests in consolidated subsidiaries
   
341
 
         
Total equity capital
   
164,369
 
         
Total liabilities, and equity capital
 
$
1,675,077
 

I, John R. Shrewsberry, Sr. EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

 
/s/ John R. Shrewsberry
 
Sr. EVP & CFO

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 appropriate Federal regulatory authority and is true and correct.

Directors
/s/ Enrique Hernandez, Jr
/s/ Federico F. Pena
/s/ James Quigley