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EXHIBIT 25.1
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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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IBJ ▇▇▇▇▇▇▇▇ BANK & TRUST COMPANY
(Exact name of trustee as specified in its charter)
NEW YORK ▇▇-▇▇▇▇▇▇▇
(Jurisdiction of incorporation (I.R.S. employer
or organization if not a U.S. national bank) identification No.)
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇
(Address of principal executive offices) (Zip code)
▇▇▇▇ ▇▇▇▇▇, ASSISTANT VICE PRESIDENT
IBJ ▇▇▇▇▇▇▇▇ BANK & TRUST COMPANY
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇
(▇▇▇) ▇▇▇-▇▇▇▇
(Name, address and telephone number of agent for service)
RENTERS CHOICE, INC.
RENT-A-CENTER, INC.
COLORTYME, INC.
(Exact names of obligor as specified in its charter)
DELAWARE ▇▇-▇▇▇▇▇▇▇
DELAWARE ▇▇-▇▇▇▇▇▇▇
TEXAS 75-2651408
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
RENTERS CHOICE, INC.
▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
RENT-A-CENTER, INC.
▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇
COLORTYME, INC.
▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
(Address of principal executive offices) (Zip code)
11% SENIOR SUBORDINATED NOTES DUE 2008
(Title of 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.
New York State Banking Department
Two ▇▇▇▇▇▇ Street
New York, New York
Federal Deposit Insurance Corporation
Washington, D.C.
Federal Reserve Bank of New York
Second District,
▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇
(▇) 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.
The obligor is not an affiliate of the trustee.
ITEM 13. DEFAULTS BY THE OBLIGOR.
(a) State whether there is or has been a default with respect to the
securities under this indenture. Explain the nature of any such default.
None
(b) If the trustee is a trustee under another indenture under which any
other securities, or certificates of interest or participation in any other
securities, of the obligors are outstanding, or is trustee for more than
one outstanding series of securities under the indenture, state whether
there has been a default under any such indenture or series, identify the
indenture or series affected, and explain the nature of any such default.
None
ITEM 16. LIST OF EXHIBITS.
List below all exhibits filed as part of this statement of eligibility.
*1. A copy of the Charter of IBJ ▇▇▇▇▇▇▇▇ Bank & Trust Company as amended
to date. (See Exhibit I A to Form T-1, Securities and Exchange Commission
File No. 22-18460).
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*2. A copy of the Certificate of Authority of the trustee to Commence
Business (Included in Exhibit 1 above).
*3. A copy of the Authorization of the trustee to exercise corporate trust
powers, as amended to date (See Exhibit 4 to Form T-1, Securities and
Exchange Commission File No. 22-19146).
*4. A copy of the existing By-Laws of the trustee, as amended to date (See
Exhibit 4 to Form T-1, Securities and Exchange Commission File No.
22-19146).
5. Not Applicable
6. The consent of United States institutional trustee required by Section
321(b) of the Act.
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.
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* The Exhibits thus designated are incorporated herein by reference as exhibits
hereto. Following the description of such Exhibits is a reference to the copy
of the Exhibit heretofore filed with the Securities and Exchange Commission,
to which there have been no amendments or changes.
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NOTE
In answering any item in this Statement of Eligibility which relates to matters
peculiarly within the knowledge of the obligor and its directors or officers,
the trustee has relied upon information furnished to it by the obligor.
Inasmuch as this Form T-1 is filed prior to the ascertainment by the trustee of
all facts on which to base responsive answers to Item 2, the answer to said Item
is based on incomplete information.
Item 2, may, however, be considered as correct unless amended by an amendment to
this Form T-1.
Pursuant to General Instruction B, the trustee has responded to Items 1, 2 and
16 of this form since to the best knowledge of the trustee as indicated in Item
13, the obligor is not in default under any indenture under which the applicant
is trustee.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the trustee,
IBJ ▇▇▇▇▇▇▇▇ Bank & Trust Company, a corporation organized and existing under
the laws of the State of New York, has duly caused this statement of eligibility
& qualification 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 December, 1998.
IBJ ▇▇▇▇▇▇▇▇ BANK & TRUST COMPANY
By: /s/ ▇▇▇▇ ▇▇▇▇▇
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▇▇▇▇ ▇▇▇▇▇
Assistant Vice President
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EXHIBIT 6
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust Indenture Act of
1939, as amended, in connection with the issuance by Renters Choice, Inc., of
its 11% Senior Subordinated Notes 2008, 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.
IBJ ▇▇▇▇▇▇▇▇ BANK & TRUST COMPANY
By: /s/ ▇▇▇▇ ▇▇▇▇▇
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▇▇▇▇ ▇▇▇▇▇
Assistant Vice President
Dated: December 3, 1998
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EXHIBIT 7
CONSOLIDATED REPORT OF CONDITION
OF IBJ ▇▇▇▇▇▇▇▇ BANK & TRUST COMPANY
OF NEW YORK, NEW YORK
AND FOREIGN AND DOMESTIC SUBSIDIARIES
REPORT AS OF SEPTEMBER 30,1998
DOLLAR AMOUNTS
IN THOUSANDS
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ASSETS
1. Cash and balance due from depository institutions:
a. Non-interest-bearing balances and currency and coin.......... $ 42,702
b. Interest-bearing balances.................................... $ 13,444
2. Securities
a. Held-to-maturity securities.................................. $ 191,921
b. Available-for-sale securities................................ $ 118,931
3. Federal funds sold and securities purchased under agreements to
resell in domestic offices of the bank and of its Edge and
Agreement subsidiaries and in IBFs:
Federal Funds sold and Securities purchased under agreements to
resell............................................................ $ 79,838
4. Loans and lease financing receivables:
a. Loans and leases, net of unearned income......... $1,938,005
b. LESS: Allowance for loan and lease losses........ $ 63,361
c. LESS: Allocated transfer risk reserve............ $ -0-
d. Loans and leases, net of unearned income, allowance, and
reserve...................................................... $1,874,644
5. Trading assets held in trading accounts........................... $ 462
6. Premises and fixed assets (including capitalized leases).......... $ 1,922
7. Other real estate owned........................................... $ 819
8. Investments in unconsolidated subsidiaries and associated
companies......................................................... $ -0-
9. Customers' liability to this bank on acceptances outstanding...... $ 371
10. Intangible assets................................................. $ 11,167
11. Other assets...................................................... $ 68,097
12. TOTAL ASSETS...................................................... $2,404,318
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CONSOLIDATED REPORT OF CONDITION
OF IBJ ▇▇▇▇▇▇▇▇ BANK & TRUST COMPANY
OF NEW YORK, NEW YORK
AND FOREIGN AND DOMESTIC SUBSIDIARIES
REPORT AS OF SEPTEMBER 30,1998, CONTINUED
DOLLAR AMOUNTS
IN THOUSANDS
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LIABILITIES
13. Deposits:
a. In domestic offices.......................................... $ 682,904
(1) Noninterest-bearing.......................... $ 135,253
(2) Interest-bearing............................. $ 547,651
b. In foreign offices, Edge and Agreement subsidiaries, and
IBFs......................................................... $1,154,887
(1) Noninterest-bearing.......................... $ 17,024
(2) Interest-bearing............................. $1,137,863
14. Federal funds purchased and securities sold under agreements to
repurchase in domestic offices of the bank and of its Edge and
Agreement subsidiaries, and in IBFs:
Federal Funds purchased and Securities sold under agreements to
repurchase........................................................ $ 91,000
15. a. Demand notes issued to the U.S. Treasury..................... $ 12,693
b. Trading Liabilities.......................................... $ 239
16. Other borrowed money:
a. With a remaining maturity of one year or less................ $ 31,002
b. With a remaining maturity of more than one year.............. $ 1,375
c. With a remaining maturity of more than three years........... $ 1,550
17. Not applicable
18. Bank's liability on acceptances executed and outstanding.......... $ 371
19. Subordinated notes and debentures................................. $ 100,000
20. Other liabilities................................................. $ 76,658
21. TOTAL LIABILITIES................................................. $2,152,679
22. Limited-life preferred stock and related surplus.................. $ N/A
EQUITY CAPITAL
23. Perpetual preferred stock and related surplus..................... $ -0-
24. Common stock...................................................... $ 29,649
25. Surplus (exclude all surplus related to preferred stock).......... $ 217,008
26. a. Undivided profits and capital reserves....................... $ 4,112
b. Net unrealized gains (losses) on available-for-sale
securities................................................... $ 870
27. Cumulative foreign currency translation adjustments............... $ -0-
28. TOTAL EQUITY CAPITAL.............................................. $ 251,639
29. TOTAL LIABILITIES AND EQUITY CAPITAL.............................. $2,404,318
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