<PAGE>
EXHIBIT 25.1
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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)
------------------------------
BANKERS TRUST COMPANY
(Exact name of trustee as specified in its charter)
NEW YORK 13-4941247
(Jurisdiction of Incorporation or (I.R.S. Employer
organization if not a U.S. national bank) Identification no.)
FOUR ALBANY STREET
NEW YORK, NEW YORK 10006
(Address of principal (Zip Code)
executive offices)
Bankers Trust Company
Legal Department
130 Liberty Street, 31st Floor
New York, New York 10006
(212) 250-2201
(Name, address and telephone number of agent for service)
--------------------------------------------------
SUPERVALU INC.
(Exact name of Registrant as specified in its charter)
Delaware 41-0617000
(State or other jurisdiction (IRS Employer
of incorporation or organization) Identification Number)
11840 Valley View Road
Eden Prairie, Minnesota 55344
(952) 828-4000
(Address, including zip code, and telephone number, including
area code, of Registrant's principal executive offices)
Debt Securities
(Title of the indenture securities)
<PAGE>
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.
Name Address
---- -------
Federal Reserve Bank (2nd District) New York, NY
Federal Deposit Insurance Corporation Washington, D.C.
New York State Banking Department Albany, NY
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
Item 2. Affiliations with Obligor.
If the obligor is an affiliate of the Trustee, describe each such
affiliation.
None.
Item 3. - 15. Not Applicable
Item 16. List of Exhibits.
Exhibit 1 - Restated Organization Certificate of
Bankers Trust Company dated August 6, 1998,
Certificate of Amendment of the Organization
Certificate of Bankers Trust Company dated
September 25, 1998, and Certificate of
Amendment of the Organization Certificate of
Bankers Trust Company dated December 16,
1998, and Certificate of Amendment of the
Organization Certificate of Bankers Trust
Company dated July 30th, 1999, copies
attached.
Exhibit 2 - Certificate of Authority to commence
business - Incorporated herein by reference
to Exhibit 2 filed with Form T-1 Statement,
Registration No. 33-21047.
Exhibit 3 - Authorization of the Trustee to exercise
corporate trust powers - Incorporated herein
by reference to Exhibit 2 filed with Form
T-1 Statement, Registration No. 33-21047.
Exhibit 4 - Existing By-Laws of Bankers Trust
Company, as amended on June 22, 1999. Copy
attached.
-2-
<PAGE>
Exhibit 5 - Not applicable.
Exhibit 6 - Consent of Bankers Trust Company
required by Section 321(b) of the Act. -
Incorporated herein by reference to Exhibit
4 filed with Form T-1 Statement,
Registration No. 22-18864.
Exhibit 7 - The latest report of condition of
Bankers Trust Company dated as of March 31,
2000. Copy attached.
Exhibit 8 - Not Applicable.
Exhibit 9 - Not Applicable.
-3-
<PAGE>
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as
amended, the trustee, Bankers Trust Company, 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 this 8th day
of August, 2000.
BANKERS TRUST COMPANY
By: /s/ Susan Johnson
------------------------------------
Susan Johnson
Vice President
-4-
<PAGE>
RESTATED
ORGANIZATION
CERTIFICATE
OF
BANKERS TRUST COMPANY
----------------------------
Under Section 8007
Of the Banking Law
----------------------------
Bankers Trust Company
130 Liberty Street
New York, N.Y. 10006
Counterpart Filed in the Office of the Superintendent of Banks,
State of New York, August 31, 1998
<PAGE>
RESTATED ORGANIZATION CERTIFICATE
OF
BANKERS TRUST
Under Section 8007 of the Banking Law
-----------------------------
We, James T. Byrne, Jr. and Lea Lahtinen, being respectively a Managing
Director and an Assistant Secretary and a Vice President and an Assistant
Secretary of BANKERS TRUST COMPANY, do hereby certify:
1. The name of the corporation is Bankers Trust Company.
2. The organization certificate of the corporation was filed by the
Superintendent of Banks of the State of New York on the March 5, 1903.
3. The text of the organization certificate, as amended heretofore, is
hereby restated without further amendment or change to read as herein set
forth in full, to wit:
"Certificate of Organization
of
Bankers Trust Company
Know All Men By These Presents That we, the undersigned, James A. Blair,
James G. Cannon, E. C. Converse, Henry P. Davison, Granville W. Garth, A. Barton
Hepburn, Will Logan, Gates W. McGarrah, George W. Perkins, William H. Porter,
John F. Thompson, Albert H. Wiggin, Samuel Woolverton and Edward F. C. Young,
all being persons of full age and citizens of the United States, and a majority
of us being residents of the State of New York, desiring to form a corporation
to be known as a Trust Company, do hereby associate ourselves together for that
purpose under and pursuant to the laws of the State of New York, and for such
purpose we do hereby, under our respective hands and seals, execute and duly
acknowledge this Organization Certificate in duplicate, and hereby specifically
state as follows, to wit:
I. The name by which the said corporation shall be known is Bankers Trust
Company.
II. The place where its business is to be transacted is the City of New
York, in the State of New York.
III. Capital Stock: The amount of capital stock which the corporation is
hereafter to have is Three Billion One Million, Six Hundred Sixty-Six Thousand,
Six Hundred Seventy Dollars ($3,001,666,670), divided into Two Hundred Million,
One Hundred Sixty-Six Thousand, Six Hundred Sixty-Seven (200,166,667) shares
with a par value of $10 each designated as Common Stock and 1,000 shares with a
par value of One Million Dollars ($1,000,000) each designated as Series
Preferred Stock.
(a) Common Stock
1. Dividends: Subject to all of the rights of the Series
Preferred Stock, dividends may be declared and paid or set apart for
payment upon the Common Stock out of any assets or funds of the
corporation legally available for the payment of dividends.
<PAGE>
2. Voting Rights: Except as otherwise expressly provided with
respect to the Series Preferred Stock or with respect to any series of
the Series Preferred Stock, the Common Stock shall have the exclusive
right to vote for the election of directors and for all other
purposes, each holder of the Common Stock being entitled to one vote
for each share thereof held.
3. Liquidation: Upon any liquidation, dissolution or winding up
of the corporation, whether voluntary or involuntary, and after the
holders of the Series Preferred Stock of each series shall have been
paid in full the amounts to which they respectively shall be entitled,
or a sum sufficient for the payment in full set aside, the remaining
net assets of the corporation shall be distributed pro rata to the
holders of the Common Stock in accordance with their respective rights
and interests, to the exclusion of the holders of the Series Preferred
Stock.
4. Preemptive Rights: No holder of Common Stock of the
corporation shall be entitled, as such, as a matter of right, to
subscribe for or purchase any part of any new or additional issue of
stock of any class or series whatsoever, any rights or options to
purchase stock of any class or series whatsoever, or any securities
convertible into, exchangeable for or carrying rights or options to
purchase stock of any class or series whatsoever, whether now or
hereafter authorized, and whether issued for cash or other
consideration, or by way of dividend or other distribution.
(b) Series Preferred Stock
1. Board Authority: The Series Preferred Stock may be issued from
time to time by the Board of Directors as herein provided in one or
more series. The designations, relative rights, preferences and
limitations of the Series Preferred Stock, and particularly of the
shares of each series thereof, may, to the extent permitted by law, be
similar to or may differ from those of any other series. The Board of
Directors of the corporation is hereby expressly granted authority,
subject to the provisions of this Article III, to issue from time to
time Series Preferred Stock in one or more series and to fix from time
to time before issuance thereof, by filing a certificate pursuant to
the Banking Law, the number of shares in each such series of such
class and all designations, relative rights (including the right, to
the extent permitted by law, to convert into shares of any class or
into shares of any series of any class), preferences and limitations
of the shares in each such series, including, buy without limiting the
generality of the foregoing, the following:
(i) The number of shares to constitute such series (which
number may at any time, or from time to time, be increased or
decreased by the Board of Directors, notwithstanding that shares
of the series may be outstanding at the time of such increase or
decrease, unless the Board of Directors shall have otherwise
provided in creating such series) and the distinctive designation
thereof;
(ii) The dividend rate on the shares of such series, whether
or not dividends on the shares of such series shall be
cumulative, and the date or dates, if any, from which dividends
thereon shall be cumulative;
(iii) Whether or not the share of such series shall be
redeemable, and, if redeemable, the date or dates upon or after
which they shall be redeemable, the amount or amounts per share
(which shall be, in the case of each share, not less than its
preference upon involuntary liquidation, plus an amount equal to
all dividends thereon accrued and unpaid, whether or not earned
or declared) payable thereon in the case of the redemption
thereof, which amount may vary at different redemption dates or
otherwise as permitted by law;
(iv) The right, if any, of holders of shares of such series
to convert the same into, or exchange the same for, Common Stock
or other stock as permitted by law, and the terms and conditions
of such
<PAGE>
conversion or exchange, as well as provisions for adjustment of
the conversion rate in such events as the Board of Directors
shall determine;
(v) The amount per share payable on the shares of such
series upon the voluntary and involuntary liquidation,
dissolution or winding up of the corporation;
(vi) Whether the holders of shares of such series shall have
voting power, full or limited, in addition to the voting powers
provided by law and, in case additional voting powers are
accorded, to fix the extent thereof; and
(vii) Generally to fix the other rights and privileges and
any qualifications, limitations or restrictions of such rights
and privileges of such series, provided, however, that no such
rights, privileges, qualifications, limitations or restrictions
shall be in conflict with the organization certificate of the
corporation or with the resolution or resolutions adopted by the
Board of Directors providing for the issue of any series of which
there are shares outstanding.
All shares of Series Preferred Stock of the same series shall be
identical in all respects, except that shares of any one series issued
at different times may differ as to dates, if any, from which
dividends thereon may accumulate. All shares of Series Preferred Stock
of all series shall be of equal rank and shall be identical in all
respects except that to the extent not otherwise limited in this
Article III any series may differ from any other series with respect
to any one or more of the designations, relative rights, preferences
and limitations described or referred to in subparagraphs (I) to (vii)
inclusive above.
2. Dividends: Dividends on the outstanding Series Preferred Stock
of each series shall be declared and paid or set apart for payment
before any dividends shall be declared and paid or set apart for
payment on the Common Stock with respect to the same quarterly
dividend period. Dividends on any shares of Series Preferred Stock
shall be cumulative only if and to the extent set forth in a
certificate filed pursuant to law. After dividends on all shares of
Series Preferred Stock (including cumulative dividends if and to the
extend any such shares shall be entitled thereto) shall have been
declared and paid or set apart for payment with respect to any
quarterly dividend period, then and not otherwise so long as any
shares of Series Preferred Stock shall remain outstanding, dividends
may be declared and paid or set apart for payment with respect to the
same quarterly dividend period on the Common Stock out the assets or
funds of the corporation legally available therefor.
All Shares of Series Preferred Stock of all series shall be of
equal rank, preference and priority as to dividends irrespective of
whether or not the rates of dividends to which the same shall be
entitled shall be the same and when the stated dividends are not paid
in full, the shares of all series of the Series Preferred Stock shall
share ratably in the payment thereof in accordance with the sums which
would by payable on such shares if all dividends were paid in full,
provided, however, that nay two or more series of the Series Preferred
Stock may differ from each other as to the existence and extent of the
right to cumulative dividends, as aforesaid.
3. Voting Rights: Except as otherwise specifically provided in
the certificate filed pursuant to law with respect to any series of
the Series Preferred Stock, or as otherwise provided by law, the
Series Preferred Stock shall not have any right to vote for the
election of directors or for any other purpose and the Common Stock
shall have the exclusive right to vote for the election of directors
and for all other purposes.
4. Liquidation: In the event of any liquidation, dissolution or
winding up of the corporation, whether voluntary or involuntary, each
series of Series Preferred Stock shall have preference and priority
over the Common Stock for payment of the amount to which each
outstanding series of Series Preferred Stock shall be entitled in
accordance with the provisions thereof and each holder of Series
Preferred Stock shall be entitled to be paid in full such amount, or
have a sum sufficient for the payment in full set aside, before any
payments shall be made to the holders of the Common Stock. If, upon
liquidation, dissolution or winding up of the corporation, the assets
of the corporation or proceeds thereof, distributable among the
holders of the shares of all series of the Series Preferred Stock
shall be insufficient to pay in full the preferential amount
aforesaid, then such assets, or the proceeds thereof, shall be
distributed among such holders ratably in accordance with the
respective amounts which would be payable
<PAGE>
if all amounts payable thereon were paid in full. After the payment to
the holders of Series Preferred Stock of all such amounts to which
they are entitled, as above provided, the remaining assets and funds
of the corporation shall be divided and paid to the holders of the
Common Stock.
5. Redemption: In the event that the Series Preferred Stock of
any series shall be made redeemable as provided in clause (iii) of
paragraph 1 of section (b) of this Article III, the corporation, at
the option of the Board of Directors, may redeem at any time or times,
and from time to time, all or any part of any one or more series of
Series Preferred Stock outstanding by paying for each share the then
applicable redemption price fixed by the Board of Directors as
provided herein, plus an amount equal to accrued and unpaid dividends
to the date fixed for redemption, upon such notice and terms as may be
specifically provided in the certificate filed pursuant to law with
respect to the series.
6. Preemptive Rights: No holder of Series Preferred Stock of the
corporation shall be entitled, as such, as a matter or right, to
subscribe for or purchase any part of any new or additional issue of
stock of any class or series whatsoever, any rights or options to
purchase stock of any class or series whatsoever, or any securities
convertible into, exchangeable for or carrying rights or options to
purchase stock of any class or series whatsoever, whether now or
hereafter authorized, and whether issued for cash or other
consideration, or by way of dividend.
(c) Provisions relating to Floating Rate Non-Cumulative Preferred
Stock, Series A. (Liquidation value $1,000,000 per share.)
1. Designation: The distinctive designation of the series
established hereby shall be "Floating Rate Non-Cumulative Preferred
Stock, Series A" (hereinafter called "Series A Preferred Stock").
2. Number: The number of shares of Series A Preferred Stock shall
initially be 250 shares. Shares of Series A Preferred Stock redeemed,
purchased or otherwise acquired by the corporation shall be cancelled
and shall revert to authorized but unissued Series Preferred Stock
undesignated as to series.
3. Dividends:
(a) Dividend Payments Dates. Holders of the Series A
Preferred Stock shall be entitled to receive non-cumulative cash
dividends when, as and if declared by the Board of Directors of
the corporation, out of funds legally available therefor, from
the date of original issuance of such shares (the "Issue Date")
and such dividends will be payable on March 28, June 28,
September 28 and December 28 of each year (:Dividend Payment
Date") commencing September 28, 1990, at a rate per annum as
determined in paragraph 3(b) below. The period beginning on the
Issue Date and ending on the day preceding the firs Dividend
Payment Date and each successive period beginning on a Dividend
Payment Date and ending on the date preceding the next succeeding
Dividend Payment Date is herein called a "Dividend Period". If
any Dividend payment Date shall be, in The City of New York, a
Sunday or a legal holiday or a day on which banking institutions
are authorized by law to close, then payment will be postponed to
the next succeeding business day with the same force and effect
as if made on the Dividend Payment Date, and no interest shall
accrue for such Dividend Period after such Dividend Payment Date.
(b) Dividend Rate. The dividend rare from time to time
payable in respect of Series A Preferred Stock (the "Dividend
Rate") shall be determined on the basis of the following
provisions:
(i) On the Dividend Determination Date, LIBOR will be
determined on the basis of the offered rates for deposits in
U.S. dollars having a maturity of three months commencing on
the second London Business Day immediately following such
Dividend Determination Date, as such rates appear on the
Reuters Screen LIBO Page as of 11:00 A.M. London time, on
such Dividend Determination Date. If at least two such
offered rates appear on the Reuters Screen LIBO Page, LIBOR
in respect of such Dividend Determination Dates will be the
arithmetic mean (rounded to the nearest one-hundredth of a
percent, with five one-thousandths of a percent rounded
upwards) of such offered rates. If fewer than those offered
rates appear, LIBOR in respect of such Dividend
Determination Date will be determined as described in
paragraph (ii) below.
<PAGE>
(ii) On any Dividend Determination Date on which fewer
than those offered rates for the applicable maturity appear
on the Reuters Screen LIBO Page as specified in paragraph
(I) above, LIBOR will be determined on the basis of the
rates at which deposits in U.S. dollars having a maturity of
three months commending on the second London Business Day
immediately following such Dividend Determination Date and
in a principal amount of not less than $1,000,000 that is
representative of a single transaction in such market at
such time are offered by three major banks in the London
interbank market selected by the corporation at
approximately 11:00 A.M., London time, on such Dividend
Determination Date to prime banks in the London market. The
corporation will request the principal London office of each
of such banks to provide a quotation of its rate. If at
least two such quotations are provided, LIBOR in respect of
such Dividend Determination Date will be the arithmetic mean
(rounded to the nearest one-hundredth of a percent, with
five one-thousandths of a percent rounded upwards) of such
quotations. If fewer than two quotations are provided, LIBOR
in respect of such Dividend Determination Date will be the
arithmetic mean (rounded to the nearest one-hundredth of a
percent, with five one-thousandths of a percent rounded
upwards) of the rates quoted by three major banks in New
York City selected by the corporation at approximately 11:00
A.M., New York City time, on such Dividend Determination
Date for loans in U.S. dollars to leading European banks
having a maturity of three months commencing on the second
London Business Day immediately following such Dividend
Determination Date and in a principal amount of not less
than $1,000,000 that is representative of a single
transaction in such market at such time; provided, however,
that if the banks selected as aforesaid by the corporation
are not quoting as aforementioned in this sentence, then,
with respect to such Dividend Period, LIBOR for the
preceding Dividend Period will be continued as LIBOR for
such Dividend Period.
(ii) The Dividend Rate for any Dividend Period shall be
equal to the lower of 18% of 50 basis points above LIBOR for
such Dividend Period as LIBOR is determined by sections (I)
or (ii) above.
As used above, the term "Dividend Determination Date" shall
mean, with resect to any Dividend Period, the second London
Business Day prior to the commencement of such Dividend
Period; and the term "London Business Day" shall mean any
day that is not a Saturday or Sunday and that, in New York
City, is not a day on which banking institutions generally
are authorized or required by law or executive order to
close and that is a day on which dealings in deposits in
U.S. dollars are transacted in the London interbank market.
4. Voting Rights: The holders of the Series A Preferred Stock
shall have the voting power and rights set forth in this paragraph 4
and shall have no other voting power or rights except as otherwise may
from time to time be required by law.
So long as any shares of Series A Preferred Stock remain
outstanding, the corporation shall not, without the affirmative vote
or consent of the holders of at least a majority of the votes of the
Series Preferred Stock entitled to vote outstanding at the time, given
in person or by proxy, either in writing or by resolution adopted at a
meeting at which the holders of Series A Preferred Stock (alone or
together with the holders of one or more other series of Series
Preferred Stock at the time outstanding and entitled to vote) vote
separately as a class, alter the provisions of the Series Preferred
Stock so as to materially adversely affect its rights; provided,
however, that in the event any such materially adverse alteration
affects the rights of only the Series A Preferred Stock, then the
alteration may be effected with the vote or consent of at least a
majority of the votes of the Series A Preferred Stock; provided,
further, that an increase in the amount of the authorized Series
Preferred Stock and/or the creation and/or issuance of other series of
Series Preferred Stock in accordance with the organization certificate
shall not be, nor be deemed to be, materially adverse alterations. In
connection with the exercise of the voting rights contained in the
preceding sentence, holders of all series of Series Preferred Stock
which are granted such voting rights (of which the Series A Preferred
Stock is the initial series) shall vote as a class (except as
specifically provided otherwise) and each holder of Series A Preferred
Stock shall have one vote for each share of stock held and each other
series shall have such number of votes, if any, for each share of
stock held as may be granted to them.
The foregoing voting provisions will not apply if, in connection
with the matters specified, provision is made for the redemption or
retirement of all outstanding Series A Preferred Stock.
5. Liquidation: Subject to the provisions of section (b) of this
Article III, upon any liquidation, dissolution or winding up of the
corporation, whether voluntary or involuntary, the holders of the
Series A Preferred Stock shall
<PAGE>
have preference and priority over the Common Stock for payment out of
the assets of the corporation or proceeds thereof, whether from
capital or surplus, of $1,000,000 per share (the "liquidation value")
together with the amount of all dividends accrued and unpaid thereon,
and after such payment the holders of Series A Preferred Stock shall
be entitled to no other payments.
6. Redemption: Subject to the provisions of section (b) of this
Article III, Series A Preferred Stock may be redeemed, at the option
of the corporation in whole or part, at any time or from time to time
at a redemption price of $1,000,000 per share, in each case plus
accrued and unpaid dividends to the date of redemption.
At the option of the corporation, shares of Series A Preferred
Stock redeemed or otherwise acquired may be restored to the status of
authorized but unissued shares of Series Preferred Stock.
In the case of any redemption, the corporation shall give notice
of such redemption to the holders of the Series A Preferred Stock to
be redeemed in the following manner: a notice specifying the shares to
be redeemed and the time and place or redemption (and, if less than
the total outstanding shares are to be redeemed, specifying the
certificate numbers and number of shares to be redeemed) shall be
mailed by first class mail, addressed to the holders of record of the
Series A Preferred Stock to be redeemed at their respective addressees
as the same shall appear upon the books of the corporation, not more
than sixty (60) days and not less than thirty (30) days previous to
the date fixed for redemption. In the event such notice is not given
to any shareholder such failure to give notice shall not affect the
notice given to other shareholders. If less than the whole amount of
outstanding Series A Preferred Stock is to be redeemed, the shares to
be redeemed shall be selected by lot or pro rata in any manner
determined by resolution of the Board of Directors to b fair and
proper. From and after the date fixed in any such notice as the date
of redemption (unless default shall be made by the corporation in
providing moneys at the time and place of redemption for the payment
of the redemption price) all dividends upon the Series A Preferred
Stock so called for redemption shall cease to accrue, and all rights
of the holders of said Series A Preferred Stock as stockholders in the
corporation, except the right to receive the redemption price (without
interest) upon surrender of the certificate representing the Series A
Preferred Stock so called for redemption, duly endorsed for transfer,
if required, shall cease and terminate. The corporation's obligation
to provide moneys in accordance with the preceding sentence shall be
deemed fulfilled if, on or before the redemption date, the corporation
shall deposit with a bank or trust company (which may e an affiliate
of the corporation) having an office in the Borough of Manhattan, City
of New York, having a capital and surplus of at least $5,000,000 funds
necessary for such redemption, in trust with irrevocable instructions
that such funds be applied to the redemption of the shares of Series A
Preferred Stock so called for redemption. Any interest accrued on such
funds shall be paid to the corporation from time to time. Any funds so
deposited and unclaimed at the end of two (2) years from such
redemption date shall be released or repaid to the corporation, after
which the holders of such shares of Series A Preferred Stock so called
for redemption shall look only to the corporation for payment of the
redemption price.
IV. The name, residence and post office address of each member of the
corporation are as follows:
<TABLE>
<CAPTION>
Name Residence Post Office Address
---- --------- -------------------
<S> <C> <C>
James A. Blair 9 West 50th Street, 33 Wall Street,
Manhattan, New York City Manhattan, New York City
James G. Cannon 72 East 54th Street, 14 Nassau Street,
Manhattan New York City Manhattan, New York City
E. C. Converse 3 East 78th Street, 139 Broadway,
Manhattan, New York City Manhattan, New York City
Henry P. Davison Englewood, 2 Wall Street,
New Jersey Manhattan, New York City
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
Granville W. Garth 160 West 57th Street, 33 Wall Street
Manhattan, New York City Manhattan, New York City
A. Barton Hepburn 205 West 57th Street 83 Cedar Street
Manhattan, New York City Manhattan, New York City
William Logan Montclair, 13 Nassau Street
New Jersey Manhattan, New York City
George W. Perkins Riverdale, 23 Wall Street,
New York Manhattan, New York City
William H. Porter 56 East 67th Street 270 Broadway,
Manhattan, New York City Manhattan, New York City
John F. Thompson Newark, 143 Liberty Street,
New Jersey Manhattan, New York City
Albert H. Wiggin 42 West 49th Street, 214 Broadway,
Manhattan, New York City Manhattan, New York City
Samuel Woolverton Mount Vernon, 34 Wall Street,
New York Manhattan, New York City
Edward F.C. Young 85 Glenwood Avenue, 1 Exchange Place,
Jersey City, New Jersey Jersey City, New Jersey
</TABLE>
V. The existence of the corporation shall be perpetual.
VI. The subscribers, the members of the said corporation, do, and each for
himself does, hereby declare that he will accept the responsibilities and
faithfully discharge the duties of a director therein, if elected to act as
such, when authorized accordance with the provisions of the Banking Law of the
State of New York.
VII. The number of directors of the corporation shall not be less that 10
nor more than 25."
4. The foregoing restatement of the organization certificate was authorized
by the Board of Directors of the corporation at a meeting held on July 21, 1998.
IN WITNESS WHEREOF, we have made and subscribed this certificate this 6th
day of August, 1998.
/s/ James T. Byrne, Jr.
-----------------------------------------
James T. Byrne, Jr.
Managing Director and Secretary
/s/ Lea Lahtinen
-----------------------------------------
Lea Lahtinen
Vice President and Assistant Secretary
/s/ Lea Lahtinen
-----------------------------------------
Lea Lahtinen
<PAGE>
State of New York )
) ss:
County of New York )
Lea Lahtinen, being duly sworn, deposes and says that she is a Vice
President and an Assistant Secretary of Bankers Trust Company, the corporation
described in the foregoing certificate; that she has read the foregoing
certificate and knows the contents thereof, and that the statements herein
contained are true.
/s/ Lea Lahtinen
-----------------------------------------
Lea Lahtinen
Sworn to before me this
6th day of August, 1998.
/s/ Sandra L. West
-----------------------------
Notary Public
SANDRA L. WEST
Notary Public State of New York
No. 31-4942101
Qualified in New York County
Commission Expires September 19, 1998
<PAGE>
State of New York,
Banking Department
I, MANUEL KURSKY, Deputy Superintendent of Banks of the State of New
York, DO HEREBY APPROVE the annexed Certificate entitled "RESTATED ORGANIZATION
CERTIFICATE OF BANKERS TRUST COMPANY Under Section 8007 of the Banking Law,"
dated August 6, 1998, providing for the restatement of the Organization
Certificate and all amendments into a single certificate.
Witness, my hand and official seal of the Banking Department at the City of New
York, this 31st day of August in the Year of our Lord
one thousand nine hundred and ninety-eight.
/s/ Manuel Kursky
-----------------------------------
Deputy Superintendent of Banks
<PAGE>
CERTIFICATE OF AMENDMENT
OF THE
ORGANIZATION CERTIFICATE
OF BANKERS TRUST
Under Section 8005 of the Banking Law
-----------------------------
We, James T. Byrne, Jr. and Lea Lahtinen, being respectively a Managing
Director and Secretary and a Vice President and an Assistant Secretary of
Bankers Trust Company, do hereby certify:
1. The name of the corporation is Bankers Trust Company.
2. The organization certificate of said corporation was filed by the
Superintendent of Banks on the 5th of March, 1903.
3. The organization certificate as heretofore amended is hereby
amended to increase the aggregate number of shares which the corporation
shall have authority to issue and to increase the amount of its authorized
capital stock in conformity therewith.
4. Article III of the organization certificate with reference to the
authorized capital stock, the number of shares into which the capital stock
shall be divided, the par value of the shares and the capital stock
outstanding, which reads as follows:
"III. The amount of capital stock which the corporation is hereafter
to have is Three Billion, One Million, Six Hundred Sixty-Six Thousand,
Six Hundred Seventy Dollars ($3,001,666,670), divided into Two Hundred
Million, One Hundred Sixty-Six Thousand, Six Hundred Sixty-Seven
(200,166,667) shares with a par value of $10 each designated as Common
Stock and 1000 shares with a par value of One Million Dollars
($1,000,000) each designated as Series Preferred Stock."
is hereby amended to read as follows:
"III. The amount of capital stock which the corporation is hereafter
to have is Three Billion, Five Hundred One Million, Six Hundred
Sixty-Six Thousand, Six Hundred Seventy Dollars ($3,501,666,670),
divided into Two Hundred Million, One Hundred Sixty-Six Thousand, Six
Hundred Sixty-Seven (200,166,667) shares with a par value of $10 each
designated as Common Stock and 1500 shares with a par value of One
Million Dollars ($1,000,000) each designated as Series Preferred
Stock."
<PAGE>
5. The foregoing amendment of the organization certificate was
authorized by unanimous written consent signed by the holder of all
outstanding shares entitled to vote thereon.
IN WITNESS WHEREOF, we have made and subscribed this certificate this 25th
day of September, 1998
/s/ James T. Byrne, Jr.
-----------------------------------------
James T. Byrne, Jr.
Managing Director and Secretary
/s/ Lea Lahtinen
-----------------------------------------
Lea Lahtinen
Vice President and Assistant Secretary
State of New York )
) ss:
County of New York )
Lea Lahtinen, being fully sworn, deposes and says that she is a Vice
President and an Assistant Secretary of Bankers Trust Company, the corporation
described in the foregoing certificate; that she has read the foregoing
certificate and knows the contents thereof, and that the statements herein
contained are true.
/s/ Lea Lahtinen
-----------------------------------------
Lea Lahtinen
Sworn to before me this 25th day
of September, 1998
/s/ Sandra L. West
-----------------------------
Notary Public
SANDRA L. WEST
Notary Public State of New York
No. 31-4942101
Qualified in New York County
Commission Expires September 19, 2000
<PAGE>
State of New York,
Banking Department
I, MANUEL KURSKY, Deputy Superintendent of Banks of the State of New York,
DO HEREBY APPROVE the annexed Certificate entitled "CERTIFICATE OF AMENDMENT OF
THE ORGANIZATION CERTIFICATE OF BANKERS TRUST COMPANY Under Section 8005 of the
Banking Law," dated September 16, 1998, providing for an increase in authorized
capital stock from $3,001,666,670 consisting of 200,166,667 shares with a par
value of $10 each designated as Common Stock and 1,000 shares with a par value
of $1,000,000 each designated as Series Preferred Stock to $3,501,666,670
consisting of 200,166,667 shares with a par value of $10 each designated as
Common Stock and 1,500 shares with a par value of $1,000,000 each designated as
Series Preferred Stock.
Witness, my hand and official seal of the Banking Department at the City of New
York, this 25th day of September in the Year of our Lord
one thousand nine hundred and ninety-eight.
/s/ Manuel Kursky
-----------------------------------------
Deputy Superintendent of Banks
<PAGE>
CERTIFICATE OF AMENDMENT
OF THE
ORGANIZATION CERTIFICATE
OF BANKERS TRUST
Under Section 8005 of the Banking Law
-----------------------------
We, James T. Byrne, Jr. and Lea Lahtinen, being respectively a Managing
Director and Secretary and a Vice President and an Assistant Secretary of
Bankers Trust Company, do hereby certify:
1. The name of the corporation is Bankers Trust Company.
2. The organization certificate of said corporation was filed by the
Superintendent of Banks on the 5th of March, 1903.
3. The organization certificate as heretofore amended is hereby
amended to increase the aggregate number of shares which the corporation
shall have authority to issue and to increase the amount of its authorized
capital stock in conformity therewith.
4. Article III of the organization certificate with reference to the
authorized capital stock, the number of shares into which the capital stock
shall be divided, the par value of the shares and the capital stock
outstanding, which reads as follows:
"III. The amount of capital stock which the corporation is hereafter
to have is Three Billion, Five Hundred One Million, Six Hundred
Sixty-Six Thousand, Six Hundred Seventy Dollars ($3,501,666,670),
divided into Two Hundred Million, One Hundred Sixty-Six Thousand, Six
Hundred Sixty-Seven (200,166,667) shares with a par value of $10 each
designated as Common Stock and 1500 shares with a par value of One
Million Dollars ($1,000,000) each designated as Series Preferred
Stock."
is hereby amended to read as follows:
"III. The amount of capital stock which the corporation is hereafter
to have is Three Billion, Six Hundred Twenty-Seven Million, Three
Hundred Eight Thousand, Six Hundred Seventy Dollars ($3,627,308,670),
divided into Two Hundred Twelve Million, Seven Hundred Thirty
Thousand, Eight Hundred Sixty- Seven (212,730,867) shares with a par
value of $10 each designated as Common Stock and 1500 shares with a
par value of One Million Dollars ($1,000,000) each designated as
Series Preferred Stock."
<PAGE>
5. The foregoing amendment of the organization certificate was
authorized by unanimous written consent signed by the holder of all
outstanding shares entitled to vote thereon.
IN WITNESS WHEREOF, we have made and subscribed this certificate this 16th
day of December, 1998
/s/ James T. Byrne, Jr.
-----------------------------------------
James T. Byrne, Jr.
Managing Director and Secretary
/s/ Lea Lahtinen
-----------------------------------------
Lea Lahtinen
Vice President and Assistant Secretary
State of New York )
) ss:
County of New York )
Lea Lahtinen, being fully sworn, deposes and says that she is a Vice
President and an Assistant Secretary of Bankers Trust Company, the corporation
described in the foregoing certificate; that she has read the foregoing
certificate and knows the contents thereof, and that the statements herein
contained are true.
/s/ Lea Lahtinen
-----------------------------------------
Lea Lahtinen
Sworn to before me this 16th day
of December, 1998
/s/ Sandra L. West
-----------------------------
Notary Public
SANDRA L. WEST
Notary Public State of New York
No. 31-4942101
Qualified in New York County
Commission Expires September 19, 2000
<PAGE>
State of New York,
Banking Department
I, P. VINCENT CONLON, Deputy Superintendent of Banks of the State of New
York, DO HEREBY APPROVE the annexed Certificate entitled "CERTIFICATE OF
AMENDMENT OF THE ORGANIZATION CERTIFICATE OF BANKERS TRUST COMPANY Under Section
8005 of the Banking Law," dated December 16, 1998, providing for an increase in
authorized capital stock from $3,501,666,670 consisting of 200,166,667 shares
with a par value of $10 each designated as Common Stock and 1,500 shares with a
par value of $1,000,000 each designated as Series Preferred Stock to
$3,627,308,670 consisting of 212,730,867 shares with a par value of $10 each
designated as Common Stock and 1,500 shares with a par value of $1,000,000 each
designated as Series Preferred Stock.
Witness, my hand and official seal of the Banking Department at the City of New
York, this 18th day of December in the Year of our Lord
one thousand nine hundred and ninety-eight.
/s/ P. Vincent Conlon
----------------------------------------
Deputy Superintendent of Banks
<PAGE>
CERTIFICATE OF AMENDMENT
OF THE
ORGANIZATION CERTIFICATE
OF BANKERS TRUST
Under Section 8005 of the Banking Law
-----------------------------
We, James T. Byrne, Jr. and Lea Lahtinen, being respectively a Managing
Director and Secretary and a Vice President and an Assistant Secretary of
Bankers Trust Company, do hereby certify:
1. The name of the corporation is Bankers Trust Company.
2. The organization certificate of said corporation was filed by the
Superintendent of Banks on the 5th of March, 1903.
3. The organization certificate as heretofore amended is hereby
amended to reduce the minimum number of directors required from 10 to 7,
and to reduce in the maximum number of directors from 25 to 15.
4. Article VII of the organization certificate with reference to
number of directors, which reads as follows:
"VII. The number of directors of the corporation shall be not less
than 10 nor more than 25"
is hereby amended to read as follows:
"VII. The number of directors of the corporation shall be not less
than 7 nor more than 15"
5. The foregoing amendment of the organization certificate was
authorized by unanimous written consent signed by the holder of all
outstanding shares entitled to vote thereon.
IN WITNESS WHEREOF, we have made and subscribed this certificate this 30th
day of July 1999
/s/ James T. Byrne, Jr.
-----------------------------------------
James T. Byrne, Jr.
Managing Director and Secretary
/s/ Lea Lahtinen
-----------------------------------------
Lea Lahtinen
Vice President and Assistant Secretary
<PAGE>
State of New York )
) ss:
County of New York )
Lea Lahtinen, being fully sworn, deposes and says that she is a Vice
President and an Assistant Secretary of Bankers Trust Company, the corporation
described in the foregoing certificate; that she has read the foregoing
certificate and knows the contents thereof, and that the statements herein
contained are true.
/s/ Lea Lahtinen
-----------------------------------------
Lea Lahtinen
Sworn to before me this 30th day
of July, 1999
/s/ Sandra L. West
-----------------------------
Notary Public
SANDRA L. WEST
Notary Public State of New York
No. 31-4942101
Qualified in New York County
Commission Expires September 19, 2000
<PAGE>
State of New York,
Banking Department
I, P. VINCENT CONLON, Deputy Superintendent of Banks of the State of New
York, DO HEREBY APPROVE the annexed Certificate entitled "CERTIFICATE OF
AMENDMENT OF THE ORGANIZATION CERTIFICATE OF BANKERS TRUST COMPANY Under Section
8005 of the Banking Law," dated September 3, 1999, providing for a reduction in
the minimum number of directors required from ten to seven, and a reduction in
the maximum number of directors from twenty-five to fifteen.
Witness, my hand and official seal of the Banking Department at the City of New
York, this 3rd day of September in the Year of our Lord
one thousand nine hundred and ninety-nine.
/s/ P. Vincent Conlon
-----------------------------------------
Deputy Superintendent of Banks
<PAGE>
BY-LAWS
JUNE 22, 1999
Bankers Trust Company
New York
<PAGE>
BY-LAWS
of
Bankers Trust Company
ARTICLE I
MEETINGS OF STOCKHOLDERS
SECTION 1. The annual meeting of the stockholders of this Company shall be held
at the office of the Company in the Borough of Manhattan, City of New York, on
the third Tuesday in January of each year, for the election of directors and
such other business as may properly come before said meeting.
SECTION 2. Special meetings of stockholders other than those regulated by
statute may be called at any time by a majority of the directors. It shall be
the duty of the Chairman of the Board, the Chief Executive Officer or the
President to call such meetings whenever requested in writing to do so by
stockholders owning a majority of the capital stock.
SECTION 3. At all meetings of stockholders, there shall be present, either in
person or by proxy, stockholders owning a majority of the capital stock of the
Company, in order to constitute a quorum, except at special elections of
directors, as provided by law, but less than a quorum shall have power to
adjourn any meeting.
SECTION 4. The Chairman of the Board or, in his absence, the Chief Executive
Officer or, in his absence, the President or, in their absence, the senior
officer present, shall preside at meetings of the stockholders and shall direct
the proceedings and the order of business. The Secretary shall act as secretary
of such meetings and record the proceedings.
ARTICLE II
DIRECTORS
SECTION 1. The affairs of the Company shall be managed and its corporate powers
exercised by a Board of Directors consisting of such number of directors, but
not less than seven nor more than fifteen, as may from time to time be fixed by
resolution adopted by a majority of the directors then in office, or by the
stockholders. In the event of any increase in the number of directors,
additional directors may be elected within the limitations so fixed, either by
the stockholders or within the limitations imposed by law, by a majority of
directors then in office. One-third of the number of directors, as fixed from
time to time, shall constitute a quorum. Any one or more members of the Board of
Directors or any Committee thereof may participate in a meeting of the Board of
Directors or Committee thereof by means of a conference telephone or similar
communications equipment which allows all persons participating in the meeting
to hear each other at the same time. Participation by such means shall
constitute presence in person at such a meeting.
<PAGE>
All directors hereafter elected shall hold office until the next annual meeting
of the stockholders and until their successors are elected and have qualified.
No Officer-Director who shall have attained age 65, or earlier relinquishes his
responsibilities and title, shall be eligible to serve as a director.
SECTION 2. Vacancies not exceeding one-third of the whole number of the Board of
Directors may be filled by the affirmative vote of a majority of the directors
then in office, and the directors so elected shall hold office for the balance
of the unexpired term.
SECTION 3. The Chairman of the Board shall preside at meetings of the Board of
Directors. In his absence, the Chief Executive Officer or, in his absence, such
other director as the Board of Directors from time to time may designate shall
preside at such meetings.
SECTION 4. The Board of Directors may adopt such Rules and Regulations for the
conduct of its meetings and the management of the affairs of the Company as it
may deem proper, not inconsistent with the laws of the State of New York, or
these By-Laws, and all officers and employees shall strictly adhere to, and be
bound by, such Rules and Regulations.
SECTION 5. Regular meetings of the Board of Directors shall be held from time to
time provided, however, that there shall be at least ten regular monthly
meetings during a calendar year. Special meetings of the Board of Directors may
be called upon at least two day's notice whenever it may be deemed proper by the
Chairman of the Board or, the Chief Executive Officer or, in their absence, by
such other director as the Board of Directors may have designated pursuant to
Section 3 of this Article, and shall be called upon like notice whenever any
three of the directors so request in writing.
SECTION 6. The compensation of directors as such or as members of committees
shall be fixed from time to time by resolution of the Board of Directors.
ARTICLE III
COMMITTEES
SECTION 1. There shall be an Executive Committee of the Board consisting of not
less than five directors who shall be appointed annually by the Board of
Directors. The Chairman of the Board shall preside at meetings of the Executive
Committee. In his absence, the Chief Executive Officer or, in his absence, such
other member of the Committee as the Committee from time to time may designate
shall preside at such meetings.
The Executive Committee shall possess and exercise to the extent permitted by
law all of the powers of the Board of Directors, except when the latter is in
session, and shall keep minutes of its proceedings, which shall be presented to
the Board of Directors at its next subsequent meeting. All acts done and powers
and authority conferred by the Executive Committee from time to time shall be
and be deemed to be, and may be certified as being, the act and under the
authority of the Board of Directors.
<PAGE>
A majority of the Committee shall constitute a quorum, but the Committee may act
only by the concurrent vote of not less than one-third of its members, at least
one of whom must be a director other than an officer. Any one or more directors,
even though not members of the Executive Committee, may attend any meeting of
the Committee, and the member or members of the Committee present, even though
less than a quorum, may designate any one or more of such directors as a
substitute or substitutes for any absent member or members of the Committee, and
each such substitute or substitutes shall be counted for quorum, voting, and all
other purposes as a member or members of the Committee.
SECTION 2. There shall be an Audit Committee appointed annually by resolution
adopted by a majority of the entire Board of Directors which shall consist of
such number of directors, who are not also officers of the Company, as may from
time to time be fixed by resolution adopted by the Board of Directors. The
Chairman shall be designated by the Board of Directors, who shall also from time
to time fix a quorum for meetings of the Committee. Such Committee shall conduct
the annual directors' examinations of the Company as required by the New York
State Banking Law; shall review the reports of all examinations made of the
Company by public authorities and report thereon to the Board of Directors; and
shall report to the Board of Directors such other matters as it deems advisable
with respect to the Company, its various departments and the conduct of its
operations.
In the performance of its duties, the Audit Committee may employ or retain, from
time to time, expert assistants, independent of the officers or personnel of the
Company, to make studies of the Company's assets and liabilities as the
Committee may request and to make an examination of the accounting and auditing
methods of the Company and its system of internal protective controls to the
extent considered necessary or advisable in order to determine that the
operations of the Company, including its fiduciary departments, are being
audited by the General Auditor in such a manner as to provide prudent and
adequate protection. The Committee also may direct the General Auditor to make
such investigation as it deems necessary or advisable with respect to the
Company, its various departments and the conduct of its operations. The
Committee shall hold regular quarterly meetings and during the intervals thereof
shall meet at other times on call of the Chairman.
SECTION 3. The Board of Directors shall have the power to appoint any other
Committees as may seem necessary, and from time to time to suspend or continue
the powers and duties of such Committees. Each Committee appointed pursuant to
this Article shall serve at the pleasure of the Board of Directors.
<PAGE>
ARTICLE IV
OFFICERS
SECTION 1. The Board of Directors shall elect from among their number a Chairman
of the Board and a Chief Executive Officer; and shall also elect a President,
and may also elect a Senior Vice Chairman, one or more Vice Chairmen, one or
more Executive Vice Presidents, one or more Senior Managing Directors, one or
more Managing Directors, one or more Senior Vice Presidents, one or more
Principals, one or more Vice Presidents, one or more General Managers, a
Secretary, a Controller, a Treasurer, a General Counsel, one or more Associate
General Counsels, a General Auditor, a General Credit Auditor, and one or more
Deputy Auditors, who need not be directors. The officers of the corporation may
also include such other officers or assistant officers as shall from time to
time be elected or appointed by the Board. The Chairman of the Board or the
Chief Executive Officer or, in their absence, the President, the Senior Vice
Chairman or any Vice Chairman, may from time to time appoint assistant officers.
All officers elected or appointed by the Board of Directors shall hold their
respective offices during the pleasure of the Board of Directors, and all
assistant officers shall hold office at the pleasure of the Board or the
Chairman of the Board or the Chief Executive Officer or, in their absence, the
President, the Senior Vice Chairman or any Vice Chairman. The Board of Directors
may require any and all officers and employees to give security for the faithful
performance of their duties.
SECTION 2. The Board of Directors shall designate the Chief Executive Officer of
the Company who may also hold the additional title of Chairman of the Board,
President, Senior Vice Chairman or Vice Chairman and such person shall have,
subject to the supervision and direction of the Board of Directors or the
Executive Committee, all of the powers vested in such Chief Executive Officer by
law or by these By-Laws, or which usually attach or pertain to such office. The
other officers shall have, subject to the supervision and direction of the Board
of Directors or the Executive Committee or the Chairman of the Board or, the
Chief Executive Officer, the powers vested by law or by these By-Laws in them as
holders of their respective offices and, in addition, shall perform such other
duties as shall be assigned to them by the Board of Directors or the Executive
Committee or the Chairman of the Board or the Chief Executive Officer.
The General Auditor shall be responsible, through the Audit Committee, to the
Board of Directors for the determination of the program of the internal audit
function and the evaluation of the adequacy of the system of internal controls.
Subject to the Board of Directors, the General Auditor shall have and may
exercise all the powers and shall perform all the duties usual to such office
and shall have such other powers as may be prescribed or assigned to him from
time to time by the Board of Directors or vested in him by law or by these
By-Laws. He shall perform such other duties and shall make such investigations,
examinations and reports as may be prescribed or required by the Audit
Committee. The General Auditor shall have unrestricted access to all records and
premises of the Company and shall delegate such authority to his subordinates.
He shall have the duty to report to the Audit Committee on all matters
concerning the internal audit program and the adequacy of the system of internal
controls of the Company which he deems advisable or which the Audit Committee
may request. Additionally, the General Auditor shall have the duty of reporting
independently of all officers of the Company to the Audit Committee at least
quarterly on any matters concerning the internal audit program and the adequacy
of the system of internal controls of the Company that should be brought to the
attention of the directors except those matters responsibility for which has
been
<PAGE>
vested in the General Credit Auditor. Should the General Auditor deem any
matter to be of special immediate importance, he shall report thereon forthwith
to the Audit Committee. The General Auditor shall report to the Chief Financial
Officer only for administrative purposes.
The General Credit Auditor shall be responsible to the Chief Executive Officer
and, through the Audit Committee, to the Board of Directors for the systems of
internal credit audit, shall perform such other duties as the Chief Executive
Officer may prescribe, and shall make such examinations and reports as may be
required by the Audit Committee. The General Credit Auditor shall have
unrestricted access to all records and may delegate such authority to
subordinates.
SECTION 3. The compensation of all officers shall be fixed under such plan or
plans of position evaluation and salary administration as shall be approved from
time to time by resolution of the Board of Directors.
SECTION 4. The Board of Directors, the Executive Committee, the Chairman of the
Board, the Chief Executive Officer or any person authorized for this purpose by
the Chief Executive Officer, shall appoint or engage all other employees and
agents and fix their compensation. The employment of all such employees and
agents shall continue during the pleasure of the Board of Directors or the
Executive Committee or the Chairman of the Board or the Chief Executive Officer
or any such authorized person; and the Board of Directors, the Executive
Committee, the Chairman of the Board, the Chief Executive Officer or any such
authorized person may discharge any such employees and agents at will.
ARTICLE V
INDEMNIFICATION OF DIRECTORS, OFFICERS AND OTHERS
SECTION 1. The Company shall, to the fullest extent permitted by Section 7018 of
the New York Banking Law, indemnify any person who is or was made, or threatened
to be made, a party to an action or proceeding, whether civil or criminal,
whether involving any actual or alleged breach of duty, neglect or error, any
accountability, or any actual or alleged misstatement, misleading statement or
other act or omission and whether brought or threatened in any court or
administrative or legislative body or agency, including an action by or in the
right of the Company to procure a judgment in its favor and an action by or in
the right of any other corporation of any type or kind, domestic or foreign, or
any partnership, joint venture, trust, employee benefit plan or other
enterprise, which any director or officer of the Company is servicing or served
in any capacity at the request of the Company by reason of the fact that he, his
testator or intestate, is or was a director or officer of the Company, or is
serving or served such other corporation, partnership, joint venture, trust,
employee benefit plan or other enterprise in any capacity, against judgments,
fines, amounts paid in settlement, and costs, charges and expenses, including
attorneys' fees, or any appeal therein; provided, however, that no
indemnification shall be provided to any such person if a judgment or other
final adjudication adverse to the director or officer establishes that (i) his
acts were committed in bad faith or were the result of active and deliberate
dishonesty and, in either case, were material to the cause of action so
adjudicated, or (ii) he personally gained in fact a financial profit or other
advantage to which he was not legally entitled.
<PAGE>
SECTION 2. The Company may indemnify any other person to whom the Company is
permitted to provide indemnification or the advancement of expenses by
applicable law, whether pursuant to rights granted pursuant to, or provided by,
the New York Banking Law or other rights created by (i) a resolution of
stockholders, (ii) a resolution of directors, or (iii) an agreement providing
for such indemnification, it being expressly intended that these By-Laws
authorize the creation of other rights in any such manner.
SECTION 3. The Company shall, from time to time, reimburse or advance to any
person referred to in Section 1 the funds necessary for payment of expenses,
including attorneys' fees, incurred in connection with any action or proceeding
referred to in Section 1, upon receipt of a written undertaking by or on behalf
of such person to repay such amount(s) if a judgment or other final adjudication
adverse to the director or officer establishes that (i) his acts were committed
in bad faith or were the result of active and deliberate dishonesty and, in
either case, were material to the cause of action so adjudicated, or (ii) he
personally gained in fact a financial profit or other advantage to which he was
not legally entitled.
SECTION 4. Any director or officer of the Company serving (i) another
corporation, of which a majority of the shares entitled to vote in the election
of its directors is held by the Company, or (ii) any employee benefit plan of
the Company or any corporation referred to in clause (i) in any capacity shall
be deemed to be doing so at the request of the Company. In all other cases, the
provisions of this Article V will apply (i) only if the person serving another
corporation or any partnership, joint venture, trust, employee benefit plan or
other enterprise so served at the specific request of the Company, evidenced by
a written communication signed by the Chairman of the Board, the Chief Executive
Officer or the President, and (ii) only if and to the extent that, after making
such efforts as the Chairman of the Board, the Chief Executive Officer or the
President shall deem adequate in the circumstances, such person shall be unable
to obtain indemnification from such other enterprise or its insurer.
SECTION 5. Any person entitled to be indemnified or to the reimbursement or
advancement of expenses as a matter of right pursuant to this Article V may
elect to have the right to indemnification (or advancement of expenses)
interpreted on the basis of the applicable law in effect at the time of
occurrence of the event or events giving rise to the action or proceeding, to
the extent permitted by law, or on the basis of the applicable law in effect at
the time indemnification is sought.
SECTION 6. The right to be indemnified or to the reimbursement or advancement of
expense pursuant to this Article V (i) is a contract right pursuant to which the
person entitled thereto may bring suit as if the provisions hereof were set
forth in a separate written contract between the Company and the director or
officer, (ii) is intended to be retroactive and shall be available with respect
to events occurring prior to the adoption hereof, and (iii) shall continue to
exist after the rescission or restrictive modification hereof with respect to
events occurring prior thereto.
SECTION 7. If a request to be indemnified or for the reimbursement or
advancement of expenses pursuant hereto is not paid in full by the Company
within thirty days after a written claim has been received by the Company, the
claimant may at any time thereafter bring suit against the Company to recover
the unpaid amount of the claim and, if successful in whole or in part, the
claimant shall be entitled also to be paid the expenses of prosecuting such
claim. Neither the failure of the Company (including its Board of Directors,
independent legal counsel, or its stockholders) to have made a determination
<PAGE>
prior to the commencement of such action that indemnification of or
reimbursement or advancement of expenses to the claimant is proper in the
circumstance, nor an actual determination by the Company (including its Board of
Directors, independent legal counsel, or its stockholders) that the claimant is
not entitled to indemnification or to the reimbursement or advancement of
expenses, shall be a defense to the action or create a presumption that the
claimant is not so entitled.
SECTION 8. A person who has been successful, on the merits or otherwise, in the
defense of a civil or criminal action or proceeding of the character described
in Section 1 shall be entitled to indemnification only as provided in Sections 1
and 3, notwithstanding any provision of the New York Banking Law to the
contrary.
ARTICLE VI
SEAL
SECTION 1. The Board of Directors shall provide a seal for the Company, the
counterpart dies of which shall be in the charge of the Secretary of the Company
and such officers as the Chairman of the Board, the Chief Executive Officer or
the Secretary may from time to time direct in writing, to be affixed to
certificates of stock and other documents in accordance with the directions of
the Board of Directors or the Executive Committee.
SECTION 2. The Board of Directors may provide, in proper cases on a specified
occasion and for a specified transaction or transactions, for the use of a
printed or engraved facsimile seal of the Company.
ARTICLE VII
CAPITAL STOCK
SECTION 1. Registration of transfer of shares shall only be made upon the books
of the Company by the registered holder in person, or by power of attorney, duly
executed, witnessed and filed with the Secretary or other proper officer of the
Company, on the surrender of the certificate or certificates of such shares
properly assigned for transfer.
ARTICLE VIII
CONSTRUCTION
SECTION 1. The masculine gender, when appearing in these By-Laws, shall be
deemed to include the feminine gender.
<PAGE>
ARTICLE IX
AMENDMENTS
SECTION 1. These By-Laws may be altered, amended or added to by the Board of
Directors at any meeting, or by the stockholders at any annual or special
meeting, provided notice thereof has been given.
I, Susan Johnson, Vice President of Bankers Trust Company, New York, New York,
hereby certify that the foregoing is a complete, true and correct copy of the
By-Laws of Bankers Trust Company, and that the same are in full force and effect
at this date.
----------------------------------------
Susan Johnson
Vice President
DATED: July 14, 2000
<PAGE>
FFIEC 031
Legal Title of Bank: Bankers Trust Company Call Date: 03/31/2000 State#:36-4840
Address: 130 Liberty Street Vendor ID: D Cert#: 00623 Page RC-1
City, State ZIP: New York, NY 10006 Transit#: 21001003
11
Consolidated Report of Condition for Insured Commercial
and State-Chartered Savings Banks for March 31, 2000
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, reported the amount outstanding as of the last business day of the
quarter.
Schedule RC--Balance Sheet
<TABLE>
<CAPTION>
C400
Dollar Amounts in Thousands RCFD
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
ASSETS / / / / / / / / / / / /
1. Cash and balances due from depository institutions (from Schedule RC-A): / / / / / / / / / / / /
a. Noninterest-bearing balances and currency and coin (1) ............................ 0081 2,407,000 1.a.
b. Interest-bearing balances (2) ..................................................... 0071 968,000 1.b.
2. Securities: / / / / / / / / / / / /
a. Held-to-maturity securities (from Schedule RC-B, column A) ........................ 1754 0 2.a.
b. Available-for-sale securities (from Schedule RC-B, column D)....................... 1773 874,000 2.b.
3. Federal funds sold and securities purchased under agreements to resell.................... 135 6,103,000 3.
4. Loans and lease financing receivables: / / / / / / / / / / / /
a. Loans and leases, net of unearned income (from Schedule RC-C)..... RCFD 2122 17,704,000/ / / / / / / / / / / / 4.a.
b. LESS: Allowance for loan and lease losses....................... RCFD 3123 410,000/ / / / / / / / / / / / 4.b.
c. LESS: Allocated transfer risk reserve .......................... RCFD 3128 0/ / / / / / / / / / / / 4.c.
d. Loans and leases, net of unearned income, / / / / / / / / / / / /
allowance, and reserve (item 4.a minus 4.b and 4.c) ............................... 2125 17,294,000 4.d.
5. Trading Assets (from schedule RC-D) ..................................................... 3545 14,791,000 5.
6. Premises and fixed assets (including capitalized leases) ................................. 2145 614,000 6.
7. Other real estate owned (from Schedule RC-M) ............................................. 2150 78,000 7.
8. Investments in unconsolidated subsidiaries and associated companies (from Schedule RC-M) . 2130 531,000 8.
9. Customers' liability to this bank on acceptances outstanding ............................. 2155 262,000 9.
10. Intangible assets (from Schedule RC-M) ................................................... 2143 81,000 10.
11. Other assets (from Schedule RC-F) ........................................................ 2160 2,277,000 11.
12. Total assets (sum of items 1 through 11) ................................................. 2170 46,280,000 12.
</TABLE>
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(1) Includes cash items in process of collection and unposted debits.
(2) Includes time certificates of deposit not held for trading.
<PAGE>
FFIEC 031
Legal Title of Bank: Bankers Trust Company Call Date: 03/31/2000 State#:36-4840
Address: 130 Liberty Street Vendor ID: D Cert#: 00623 Page RC-1
City, State ZIP: New York, NY 10006 Transit#: 21001003
12
Schedule RC--Continued
<TABLE>
<CAPTION>
Dollar Amounts in Thousands
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
LIABILITIES
13. Deposits: / / / / / / / / / / / //
a. In domestic offices (sum of totals of columns A and C from Schedule RC-E, part I)... RCON 2200 12,579,000 13.a.
(1) Noninterest-bearing(1) ........................................................ RCON 6631 2,819,000 13.a.(1)
(2) Interest-bearing .............................................................. RCON 6636 9,760,000 13.a.(2)
b. In foreign offices, Edge and Agreement subsidiaries, and IBFs (from Schedule RC-E / // / / / / / / / / / /
part II)........................................................................... RCFN 2200 10,842,000 13.b.
(1) Noninterest-bearing .......................................................... RCFN 6631 2,065,000 13.b.(1)
(2) Interest-bearing.............................................................. RCFN 6636 8,777,000 13.b.(2)
14. Federal funds purchased and securities sold under agreements to repurchase .............. RCFD 2800 5,662,000 14.
15. a. Demand notes issued to the U.S. Treasury ........................................... RCON 2840 71,000 15.a.
b. Trading liabilities (from Schedule RC-D)............................................ RCFD 3548 2,746,000 15.b.
16. Other borrowed money (includes mortgage indebtedness and obligations under / / / / / / / / / / / //
capitalized leases): / / / / / / / / / / / //
a. With a remaining maturity of one year or less ...................................... RCFD 2332 1,608,000 16.a.
b. With a remaining maturity of more than one year through three years................ A547 1,735,000 16.b.
c. With a remaining maturity of more than three years.................................. A548 100,000 16.c
17. Not Applicable. / / / / / / / / / / / // 17.
18. Bank's liability on acceptances executed and outstanding ................................ RCFD 2920 262,000 18.
19. Subordinated notes and debentures (2).................................................... RCFD 3200 20,000 19.
20. Other liabilities (from Schedule RC-G) .................................................. RCFD 2930 3,925,000 20.
21. Total liabilities (sum of items 13 through 20) .......................................... RCFD 2948 40,070,000 21.
22. Not Applicable / / / / / / / / / / / //
/ / / / / / / / / / / // 22.
EQUITY CAPITAL / / / / / / / / / / / //
23. Perpetual preferred stock and related surplus ........................................... RCFD 3838 1,500,000 23.
24. Common stock ............................................................................ RCFD 3230 2,127,000 24.
25. Surplus (exclude all surplus related to preferred stock) ................................ RCFD 3839 542,000 25.
26. a. Undivided profits and capital reserves ............................................. RCFD 3632 2,099,000 26.a.
b. Net unrealized holding gains (losses) on available-for-sale securities ............. RCFD 8434 1,000 26.b.
c. Accumulated net gains (losses) on cash flow hedges ................................. RCFD 4336 0 26.c.
27. Cumulative foreign currency translation adjustments ..................................... RCFD 3284 (59,000)27.
28. Total equity capital (sum of items 23 through 27) ....................................... RCFD 3210 6,210,000 28.
29. Total liabilities and equity capital (sum of items 21 and 28)............................ RCFD 3300 46,280,000 29
</TABLE>
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 Number
work performed for the bank by independent --------------------------
external auditors as of any date during 1997... | RCFD 6724 | M
--------------------
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 = Directors' examination of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm (may be
required by state chartering authority)
4 = Directors' examination of the bank performed by other external auditors
(may be required by state chartering authority)
5 = Review of the bank's financial statements by external auditors
6 = Compilation of the bank's financial statements by external auditors
7 = Other audit procedures (excluding tax preparation work)
8 = No external audit work
----------------------
(1) Including total demand deposits and noninterest-bearing time and savings
deposits.
(2) Includes limited-life preferred stock and related surplus.
