EX-25.2 6 c16644exv25w2.htm STATEMENT OF ELIGIBILITY ON FORM T-1 exv25w2
 

Exhibit 25.2
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) o
LASALLE BANK NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
36-0884183
(I.R.S. Employer
Identification No.)
135 South LaSalle Street, Chicago, Illinois 60603
(Address of principal executive offices) (Zip Code)
 
Guy Rounsaville
Executive Vice President
General Counsel
Telephone: (312) 904-5469
135 South LaSalle Street, Suite 925
Chicago, Illinois 60603
(Name, address and telephone number of agent for service)
 

Stericycle, Inc.
(Exact name of obligor as specified in its charter)
     
Illinois
(State or other jurisdiction of
incorporation or organization) 		  36-3640402
(I.R.S. Employer
Identification No.)
     
28161 North Keith Drive
Lake Forest, Illinois 		  60045
 
(Address of principal executive offices)   (Zip Code)
 
3.5% Promissory Notes (Letter of Credit Supported) due 2014
(Title of the indenture securities)

 

 

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.
  1.   Comptroller of the Currency, Washington D.C.
 
  2.   Federal Deposit Insurance Corporation, Washington, D.C.
 
  3.   The Board of Governors of the Federal Reserve Systems, Washington, D.C.
  (b)   Whether it is authorized to exercise corporate trust powers.
                   Yes.
ITEM 2. AFFILIATIONS WITH THE OBLIGOR.
If the obligor is an affiliate of the trustee, describe each such affiliation.
Not Applicable
 
*   Pursuant to General Instruction B, the trustee has responded only to items 1, 2 and 16 of this form since to the best knowledge of the trustee the obligor is not in default under any indenture under which the trustee is a trustee.

 

 

ITEM 16. LIST OF EXHIBITS.
List below all exhibits filed as part of this statement of eligibility and qualification.
  1.   A copy of the Articles of Association of LaSalle Bank National Association now in effect. (incorporated herein by reference to Exhibit 1 to Form T-1 filed as Exhibit 25 to Form S-3, dated June 28, 2006, in File No. 333-135417).
 
  2.   A copy of the certificate of authority to commence business (incorporated herein by reference to Exhibit 2 filed with Form T-1 filed with the Current Report on Form 8-K, dated June 29, 2000, in File No. 333-61691).
 
  3.   A copy of the authorization to exercise corporate trust powers (incorporated herein by reference to Exhibit 3 filed with Form T-1 filed with the Current Report on Form 8-K, dated June 29, 2000, in File No. 333-61691).
 
  4.   A copy of the existing By-Laws of LaSalle Bank National Association (incorporated herein by reference to Exhibit 4 filed with Form T-1 filed as Exhibit 25 to Form S-3, dated June 28, 2006, in File No. 333-135417).
 
  5.   Not applicable.
 
  6.   The consent of the trustee required by Section 321(b) of the Trust Indenture Act of 1939 (incorporated herein by reference to Exhibit 6 filed with Form T-1 filed with the Current Report on Form 8-K, dated June 29, 2000, in File No. 333-61691).
 
  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.
 
  8.   Not applicable.
 
  9.   Not applicable.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the trustee, LaSalle Bank National Association, a corporation 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 Chicago, State of Illinois, on the 12th day of July , 2007.
         
  LASALLE BANK NATIONAL ASSOCIATION
 		  
  By:   /s/ Thomas Popovics    
    Name:   Thomas Popovics   
    Title:   Assistant Vice President   
 

 

 

             
LaSalle Bank N.A.   Call Date: 3/31/2007   ST-BK: 17-1520   FFIEC 031
135 South LaSalle Street           Page RC-1
Chicago, IL 60603   Vendor ID: D            CERT: 15407       11      
             
Transit Number: 71000505
Consolidated Report of Condition for Insured Commercial and
State-Chartered Savings Banks for March 31, 2007
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        
ASSETS                                            
1.
  
Cash and balances due from depository institutions (from Schedule RC-A):
       RCFD                      
 
                                               
 
   a. Noninterest-bearing balances and currency and coin (1)       0081       1,921,842     1.a        
 
   b. Interest-bearing balances (2)                     0071       8,054     1.b        
2.
   Securities:                                            
 
   a. Held-to-maturity securities (from Schedule RC-B, column A)       1754       44,355     2.a        
 
   b. Available-for-sale securities (from Schedule RC-B, column D)       1773       20,142,854     2.b        
3.
  
Federal funds sold and securities purchased under agreements to resell
                              
 
   a. Federal funds sold in domestic offices                     B987       129,310     3.a        
 
   b. Securities purchased under agreements to resell (3)       B989       260,664     3.b        
4.
   Loans and lease financing receivables (from schedule RC-C)                              
 
   a. Loans and leases held for sale                     5369       3,461,116     4.a        
 
   b. Loans and leases, net of unearned income     B528       43,180,219                              
 
   c. LESS: Allowance for loan and lease losses     3123       712,750                     4.c        
 
   d. Loans and leases, net of unearned income, allowance, and reserve (item 4.a minus 4.b and 4.c)       B529       42,467,469     4.d        
5.
   Trading assets (from Schedule RC-D)                     3545       1,439,792     5.        
6.
   Premises and fixed assets (including capitalized leases)       2145       240,020     6.        
7.
   Other real estate owned (from Schedule RC-M)       2150       13,234     7.        
8.
  
Investments in unconsolidated subsidiaries and associated companies (from Schedule RC-M)
       2130       0     8.        
9.
   Not applicable                                            
10.
   Intangible assets (from Schedule RC-M)                                            
 
   a. Goodwill                     3163       165,599     10.a        
 
   b. Other Intangible assets                     0426       0     10.b        
11.
   Other assets (from Schedule RC-F)                     2160       4,757,499     11.        
12.
   Total assets (sum of items 1 through 11)                     2170       75,051,808     12.     75,051,808  
 
(1)   Includes cash items in process of collection and unposted debits.
 
(2)   Includes time certificates of deposit not held for trading.
 
(3)   Includes all securities resale agreements in domestic and foreign offices, regardless of maturity.

 

             
LaSalle Bank N.A.   Call Date: 3/31/2007   ST-BK: 17-1520   FFIEC 031
135 South LaSalle Street           Page RC- 2
Chicago, IL 60603   Vendor ID: D            CERT: 15407      12           
Transit Number: 71000505
Schedule RC — Continued
                                                 
                                Dollar Amounts in Thousands        
LIABILITIES                                            
13.
   Deposits:                                            
 
  
a. In domestic offices (sum of totals of columns A and C from Schedule RC-E, part I)
       RCON                      
 
                                               
 
                       2200       39,334,984     13.a        
 
         RCON                                      
 
                                               
 
   (1) Noninterest-bearing (1)     6631       6,722,447                     13.a.1        
 
   (2) Interest-bearing     6636       32,612,537                     13.a.2     39,334,984  
 
                         RCFN                      
 
                                               
 
  
b. In foreign offices, Edge and Agreement subsidiaries, and IBFs (from Schedule RC-E, part II)
       2200       5,147,435     13.b        
 
         RCFN                                      
 
                                               
 
   (1) Noninterest-bearing     6631       0                     13.b.1        
 
   (2) Interest-bearing     6636       5,147,435                     13.b.2        
 
                         RCON                      
 
                                                
14.
   Federal funds purchased and securities sold under agreements to repurchase:                              
 
   a. Federal funds purchased in domestic offices (2)       B993       6,453,541     14.a        
 
                         RCFD                      
 
                                                
 
   b. Securities sold under agreements to repurchase (3)       B995       1,847,663     14.b        
15.
   Trading liabilities (from Schedule RC-D)                     3548       435,442     15        
 
                                                
16.
  
Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases): From schedule RC-M
       3190       11,120,832     16        
 
                                                
17.
   Not applicable                                            
18.
   Not applicable                                            
19.
   Subordinated notes and debentures (4)                     3200       540,000     19.        
20.
   Other liabilities (from Schedule RC-G)                     2930       3,055,259     20.        
21.
   Total liabilities (sum of items 13 through 20)                     2948       67,935,156     21.     67,935,156  
22.
   Minority Interest in consolidated subsidiaries                     3000       62,299     22.        
 
                                                
EQUITY CAPITAL                                            
 
                         RCFD                      
 
                                                
23.
   Perpetual preferred stock and related surplus                     3838       500,000     23.        
24.
   Common stock                     3230       41,234     24.        
25.
   Surplus (exclude all surplus related to preferred stock)                     3839       2,010,375     25.        
26.
   a. Retained Earnings                     3632       4,282,192     26.a        
 
   b. Accumulated Other Comprehensive income.(5)                     B530       220,552     26.b        
27.
   Other Equity capital components (6)                     3284       0     27.        
28.
   Total equity capital (sum of items 23 through 27)                     3210       7,054,353     28.     7,054,353  
29.
  
Total liabilities, minority interest, and equity capital (sum of items 21, 22, and 28)
       3300       75,051,808     29.        
 
                                                
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 2001                 RCFD       Number              
 
                                                
 
                         6724       2     M.1        

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   = Attestation on bank managements assertion on the effectiveness of the banks internal control over financial reporting by a certified public accounting firm with generally accepted auditing standards by a certified public accounting firm
4   = Directors’ examination of the bank conducted in accordance with generally accepted auditing standards by a certified accounting firm. (may be required by state chartering authority)
 
5   = Directors’ examination of the bank performed by other external auditors (may be required by state chartering authority)
 
6   = Review of the bank’s financial statements by external auditors
 
7   = Compilation of the bank’s financial statements by external auditors
 
8   = Other audit procedures (excluding tax preparation work)
 
9   = No external audit work


 
(1)   Includes total demand deposits and noninterest-bearing time and savings deposits.
 
(2)   Report overnight Federal Home Loan Bank advances in Schedule RC, item 16 “other borrowed money.”
 
(3)   Includes all securities repurchased agreements in domestic and foreign offices, regardless of maturity.
 
(4)   Includes limited-life preferred stock and related surplus.
 
(5)   Includes net unrealized holding gains(losses) on available for sale securities, accumulated net gains (losses) on cash flow hedges, cumulative foreign currency translation adjustments, and minimum pension liability adjustments.
 
(6)   Includes treasury stock and unearned Employee Stock Ownership plan shares.