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IAA Acquisition Corp., et al. – ‘S-4’ on 1/24/08 – EX-25.1

On:  Thursday, 1/24/08, at 9:22pm ET   ·   As of:  1/25/08   ·   Accession #:  1193125-8-11728   ·   File #s:  333-148847, -01, -02, -03, -04, -05, -06, -07, -08, -09, -10, -11, -12, -13, -14, -15, -16, -17, -18, -19, -20, -21, -22, -23, -24, -25, -26, -27, -28, -29, -30, -31, -32, -33, -34, -35, -36, -37, -38, -39, -40, -41, -42, -43, -44, -45, -46, -47, -48, -49, -50, -51, -52, -53, -54

Previous ‘S-4’:  ‘S-4/A’ on 9/14/05   ·   Next & Latest:  ‘S-4/A’ on 2/11/08   ·   18 References:   

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 1/25/08  IAA Acquisition Corp.             S-4                  167:19M                                    RR Donnelley/FA
          Asset Holdings III, L.P.
          Adesa Washington, LLC
          Adesa-South Florida, LLC
          Adesa New Jersey, LLC
          Adesa Lansing, LLC
          Adesa Dealer Services, LLC
          Adesa Atlanta, LLC
          A.D.E. of Knoxville, LLC
          Adesa Corporation, LLC
          IAA Services, Inc.
          Insurance Auto Auctions Corp.
          Sioux Falls Auto Auction, Inc.
          Autovin, Inc.
          Adesa Southern Indiana, LLC
          Adesa San Diego, LLC
          Adesa Missouri, LLC
          Adesa Lexington, LLC
          Insurance Auto Auctions, Inc
          Auto Dealers Exchange of Memphis, LLC
          Adesa Texas, Inc.
          Adesa Mexico, LLC
          Adesa Colorado, LLC
          Adesa Birmingham, LLC
          Adesa Arkansas, LLC
          A.D.E. of Ark-La-Tex, Inc.
          Adesa Inc
          Automotive Finance Corp
          Adesa Virginia, LLC
          Adesa New York, LLC
          Dent Demon, LLC
          Auto Disposal Systems, Inc.
          Axle Holdings, Inc.
          Ads Ashland, LLC
          Adesa Phoenix, LLC
          Adesa Charlotte, LLC
          KAR Holdings, Inc.
          Adesa Oklahoma, LLC
          Zabel & Associates, Inc.
          Adesa Florida, LLC
          Tri-State Auction Co., Inc.
          Adesa Pennsylvania, LLC
          Automotive Recovery Services, Inc.
          Adesa Impact Texas, LLC
          Auto Dealers Exchange of Concord, LLC
          Par, Inc.
          Ads Priority Transport Ltd.
          Adesa Ohio, LLC
          Adesa Des Moines, LLC
          Adesa Wisconsin, LLC
          Adesa Indianapolis, LLC
          Afc Cal, LLC
          Adesa Ark-La-Tex, LLC
          Automotive Finance Consumer Division, LLC
          Adesa California, LLC

Registration of Securities Issued in a Business-Combination Transaction   —   Form S-4
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-4         Registration of Securities Issued in a              HTML   4.62M 
                          Business-Combination Transaction                       
 2: EX-2.1      Agreement and Plan of Merger                        HTML    438K 
 3: EX-3.1      Certificate of Incorporation of Kar Holdings,       HTML     71K 
                          Inc., as Amended                                       
12: EX-3.10     Operating Agreement for A.D.E. of Knoxville, LLC,   HTML    127K 
                          as Amended                                             
102: EX-3.100    Code of Regulations for Auto Disposal Systems,      HTML     78K  
                          Inc.                                                   
103: EX-3.101    Articles of Organization of Ads Ashland, LLC        HTML     69K  
104: EX-3.102    Operating Agreement for Ads Ashland, LLC            HTML    117K  
105: EX-3.103    Articles of Organization of Ads Priority Transport  HTML     60K  
                          Ltd.                                                   
106: EX-3.104    Operating Agreement for Ads Priority Transport      HTML    118K  
                          Ltd.                                                   
107: EX-3.105    Articles of Organization of Dent Demon, LLC         HTML     71K  
108: EX-3.106    Operating Agreement for Dent Demon, LLC             HTML    115K  
109: EX-3.107    Certificate of Incorporation of Sioux Falls Auto    HTML     76K  
                          Auction, Inc.                                          
110: EX-3.108    By-Laws of Sioux Falls Auto Auction, Inc.           HTML    107K  
111: EX-3.109    Articles of Incorporation of Zabel & Associates,    HTML     64K  
                          Inc.                                                   
13: EX-3.11     Articles of Organization of Adesa Ark-La-Tex, LLC   HTML     64K 
112: EX-3.110    By-Laws of Zabel & Associates, Inc.                 HTML    107K  
14: EX-3.12     Amended and Restated Operating Agreement for Adesa  HTML    123K 
                          Ark-La-Tex, LLC, as Amended                            
15: EX-3.13     Certificate of Formation of Adesa Arkansas, LLC     HTML     99K 
16: EX-3.14     Operating Agreement for Adesa Arkansas, LLC, as     HTML    128K 
                          Amended                                                
17: EX-3.15     Certificate of Formation of Adesa Atlanta, LLC      HTML     64K 
18: EX-3.16     Amended and Restated Operating Agreement for Adesa  HTML    122K 
                          Atlanta, LLC, as Amended                               
19: EX-3.17     Articles of Organization of Adesa Birmingham, LLC   HTML     82K 
20: EX-3.18     Operating Agreement for Adesa Birmingham, LLC, as   HTML    129K 
                          Amended                                                
21: EX-3.19     Articles of Organization-Conversion of Adesa        HTML     69K 
                          California, LLC                                        
 4: EX-3.2      By-Laws of Kar Holdings, Inc.                       HTML    160K 
22: EX-3.20     Operating Agreement for Adesa California, LLC, as   HTML    116K 
                          Amended                                                
23: EX-3.21     Articles of Organization of Adesa Charlotte, LLC    HTML     72K 
24: EX-3.22     Operating Agreement for Adesa Charlotte, LLC, as    HTML    133K 
                          Amended                                                
25: EX-3.23     Articles of Organization of Adesa Colorado, LLC     HTML     95K 
26: EX-3.24     Operating Agreement for Adesa Colorado, LLC, as     HTML    131K 
                          Amended                                                
27: EX-3.25     Articles of Organization of Adesa Dealer Services,  HTML     72K 
                          LLC                                                    
28: EX-3.26     Operating Agreement for Adesa Dealer Services, LLC  HTML    117K 
29: EX-3.27     Articles of Organization of Adesa Des Moines, LLC   HTML     85K 
30: EX-3.28     Operating Agreement for Adesa Des Moines, LLC, as   HTML    132K 
                          Amended                                                
31: EX-3.29     Articles of Organization of Adesa Florida, LLC      HTML     75K 
 5: EX-3.3      Amended and Restated Certificate of Incorporation   HTML     69K 
                          of Adesa, Inc.                                         
32: EX-3.30     Operating Agreement for Adesa Florida, LLC, as      HTML    129K 
                          Amended                                                
33: EX-3.31     Certificate of Formation of Adesa Impact Texas,     HTML     83K 
                          LLC                                                    
34: EX-3.32     Operating Agreement for Adesa Impact Texas, LLC,    HTML    124K 
                          as Amended                                             
35: EX-3.33     Articles of Organization of Adesa Indianapolis,     HTML     72K 
                          LLC                                                    
36: EX-3.34     Operating Agreement for Adesa Indianapolis, LLC,    HTML    131K 
                          as Amended                                             
37: EX-3.35     Articles of Organization of Adesa Lansing, LLC      HTML    110K 
38: EX-3.36     Operating Agreement for Adesa Lansing, LLC, as      HTML    128K 
                          Amended                                                
39: EX-3.37     Articles of Organization of Adesa Lexington, LLC    HTML     78K 
40: EX-3.38     Operating Agreement for Adesa Lexington, LLC, as    HTML    134K 
                          Amended                                                
41: EX-3.39     Articles of Organization of Adesa Mexico, LLC       HTML     71K 
 6: EX-3.4      Amended and Restated By-Laws of Adesa, Inc.         HTML    107K 
42: EX-3.40     Operating Agreement for Adesa Mexico, LLC           HTML    111K 
43: EX-3.41     Certificate of Organization of Adesa Missouri, LLC  HTML     91K 
44: EX-3.42     Operating Agreement for Adesa Missouri, LLC, as     HTML    120K 
                          Amended                                                
45: EX-3.43     Certificate of Formation of Adesa New Jersey, LLC   HTML     68K 
46: EX-3.44     Operating Agreement for Adesa New Jersey, LLC, as   HTML    120K 
                          Amended                                                
47: EX-3.45     Articles of Organization of Adesa New York, LLC     HTML     70K 
48: EX-3.46     Operating Agreement for Adesa New York, LLC, as     HTML    131K 
                          Amended                                                
49: EX-3.47     Articles of Organization of Adesa Ohio, LLC         HTML     86K 
50: EX-3.48     Operating Agreement for Adesa Ohio, LLC, as         HTML    130K 
                          Amended                                                
51: EX-3.49     Articles of Organization of Adesa Oklahoma, LLC     HTML     88K 
 7: EX-3.5      Articles of Organization of Adesa Corporation, LLC  HTML     71K 
52: EX-3.50     Operating Agreement for Adesa Oklahoma, LLC, as     HTML    130K 
                          Amended                                                
53: EX-3.51     Certificate of Organization of Adesa Pennsylvania,  HTML    132K 
                          Inc.                                                   
54: EX-3.52     Operating Agreement for Adesa Pennsylvania, LLC     HTML    115K 
55: EX-3.53     Articles of Incorporation of Tri-State Auction      HTML     89K 
                          Co., Inc.                                              
56: EX-3.54     By-Laws of Tri-State Auction Co., Inc.              HTML    106K 
57: EX-3.55     Certificate of Formation of Adesa Phoenix, LLC      HTML     63K 
58: EX-3.56     Amended and Restated Operating Agreement for Adesa  HTML    122K 
                          Phoenix, LLC, as Amended                               
59: EX-3.57     Certificate of Incorporation of Axle Holdings,      HTML     68K 
                          Inc., as Amended                                       
60: EX-3.58     By-Laws of Axle Holdings, Inc.                      HTML    159K 
61: EX-3.59     Articles of Organization of Adesa San Diego, LLC    HTML     76K 
 8: EX-3.6      Operating Agreement for Adesa Corporation, LLC, as  HTML    120K 
                          Amended                                                
62: EX-3.60     Amended and Restated Operating Agreement for Adesa  HTML    119K 
                          San Diego, LLC, as Amended                             
63: EX-3.61     Articles of Organization of Adesa-South Florida,    HTML     62K 
                          LLC                                                    
64: EX-3.62     Amended and Restated Operating Agreement for        HTML    115K 
                          Adesa-South Florida, LLC                               
65: EX-3.63     Articles of Organization of Adesa Southern          HTML     72K 
                          Indiana, LLC                                           
66: EX-3.64     Operating Agreement for Adesa Southern Indiana,     HTML    132K 
                          LLC, as Amended                                        
67: EX-3.65     Articles of Incorporation of Adesa Texas, Inc.      HTML     82K 
68: EX-3.66     Amended and Restated Code of By-Laws of Adesa       HTML    109K 
                          Texas, Inc.                                            
69: EX-3.67     Articles of Organization of Adesa Virginia, LLC     HTML     71K 
70: EX-3.68     Operating Agreement for Adesa Virginia, LLC, as     HTML    122K 
                          Amended                                                
71: EX-3.69     Certificate of Formation of Adesa Washington, LLC   HTML     92K 
 9: EX-3.7      Articles of Incorporation of A.D.E. of Ark-La-Tex,  HTML     74K 
                          Inc.                                                   
72: EX-3.70     Operating Agreement for Adesa Washington, LLC, as   HTML    130K 
                          Amended                                                
73: EX-3.71     Articles of Organization of Adesa Wisconsin, LLC    HTML    103K 
74: EX-3.72     Operating Agreement for Adesa Wisconsin, LLC, as    HTML    129K 
                          Amended                                                
75: EX-3.73     Articles of Organization of Afc Cal, LLC            HTML     69K 
76: EX-3.74     Amended and Restated Operating Agreement for Afc    HTML     93K 
                          Cal, LLC                                               
77: EX-3.75     Restated Certificate of Limited Partnership of      HTML    141K 
                          Asset Holdings Iii, L.P.                               
78: EX-3.76     Amended and Restated Partnership Agreement for      HTML    231K 
                          Asset Holdings Iii, L.P.                               
79: EX-3.77     Certificate of Organization of Auto Dealers         HTML    100K 
                          Exchange of Concord, LLC                               
80: EX-3.78     Operating Agreement for Auto Dealers Exchange of    HTML    132K 
                          Concord, LLC, as Amended                               
81: EX-3.79     Articles of Organization of Auto Dealers Exchange   HTML     99K 
                          of Memphis, LLC                                        
10: EX-3.8      Amended and Restated Code of By-Laws of A.D.E. of   HTML    109K 
                          Ark-La-Tex, Inc.                                       
82: EX-3.80     Operating Agreement for Auto Dealers Exchange of    HTML    133K 
                          Memphis, LLC, as Amended                               
83: EX-3.81     Articles of Organization of Automotive Finance      HTML     72K 
                          Consumer Division, LLC                                 
84: EX-3.82     Operating Agreement for Automotive Finance          HTML    115K 
                          Consumer Division, LLC                                 
85: EX-3.83     Articles of Amend. and Restate. of Articles of      HTML    106K 
                          Inc. of Automotive Finance Corp.                       
86: EX-3.84     Amended and Restated Code of By-Laws of Automotive  HTML     80K 
                          Finance Corporation                                    
87: EX-3.85     Articles of Incorporation of Automotive Recovery    HTML     90K 
                          Services, Inc.                                         
88: EX-3.86     Amended and Restated Code of By-Laws of Automotive  HTML    108K 
                          Recovery Services, Inc.                                
89: EX-3.87     Articles of Incorporation of Autovin, Inc.          HTML     70K 
90: EX-3.88     Amended and Restated Code of By-Laws of Autovin,    HTML    108K 
                          Inc.                                                   
91: EX-3.89     Articles of Incorporation of Par, Inc.              HTML     96K 
11: EX-3.9      Articles of Organization of A.D.E. of Knoxville,    HTML     80K 
                          LLC                                                    
92: EX-3.90     Amended and Restated Code of By-Laws of Par, Inc.   HTML    109K 
93: EX-3.91     Articles of Incorporation of Insurance Auto         HTML    251K 
                          Auctions, Inc.                                         
94: EX-3.92     By-Laws of Insurance Auto Auctions, Inc.            HTML    151K 
95: EX-3.93     Articles of Incorporation of Insurance Auto         HTML    107K 
                          Auctions Corp.                                         
96: EX-3.94     By-Laws of Insurance Auto Auctions Corp.            HTML     98K 
97: EX-3.95     Certificate of Incorporation of Iaa Acquisition     HTML     65K 
                          Corp.                                                  
98: EX-3.96     By-Laws of Iaa Acquisition Corp.                    HTML    107K 
99: EX-3.97     Articles of Incorporation of Iaa Services, Inc.     HTML     94K 
100: EX-3.98     By-Laws of Iaa Services, Inc.                       HTML    101K  
101: EX-3.99     Articles of Incorporation of Auto Disposal          HTML     83K  
                          Systems, Inc., as Amended                              
113: EX-4.1      Indenture (Floating Rate Senior Notes)              HTML    701K  
122: EX-4.10     Second Supplemental Indenture (Fixed Rate Senior    HTML     75K  
                          Notes)                                                 
123: EX-4.11     Second Supplemental Indenture (Senior Subordinated  HTML     76K  
                          Notes)                                                 
114: EX-4.2      Indenture (Fixed Rate Senior Notes)                 HTML    690K  
115: EX-4.3      Indenture (Senior Subordinated Notes)               HTML    757K  
116: EX-4.4      Supplemental Indenture (Floating Rate Senior        HTML     81K  
                          Notes)                                                 
117: EX-4.5      Supplemental Indenture (Fixed Rate Senior Notes)    HTML     81K  
118: EX-4.6      Supplemental Indenture (Senior Subordinated Notes)  HTML     81K  
119: EX-4.7      Exchange and Registration Rights Agreement          HTML    252K  
120: EX-4.8      Registration Rights Agreement                       HTML    178K  
121: EX-4.9      Second Supplemental Indenture (Floating Rate        HTML     75K  
                          Senior Notes)                                          
124: EX-5.1      Opinion of Skadden, Arps, Slate, Meagher & Flom     HTML     99K  
                          LLP                                                    
125: EX-10.1     Guarantee and Collateral Agreement                  HTML    287K  
132: EX-10.10    Form of Conversion Stock Option Agreement           HTML     93K  
133: EX-10.11    Form of Amendment to Conversion Stock Option        HTML     66K  
                          Agreement                                              
134: EX-10.12    Form of Rollover Stock Option Agreement             HTML    101K  
135: EX-10.13    Form of Conversion Agreement                        HTML     90K  
136: EX-10.14    Stock Incentive Plan of Kar Holdings, Inc.          HTML    109K  
137: EX-10.15    Form of Nonqualified Stock Option Agreement         HTML     97K  
138: EX-10.16    Employment Agreement (John Nordin)                  HTML    105K  
139: EX-10.17    Amendment to Employment Agreement (John Nordin)     HTML     62K  
140: EX-10.18    Financial Advisory Agreement (Goldman, Sachs &      HTML     68K  
                          Co.)                                                   
141: EX-10.19    Financial Advisory Agreement (Valueact Capital      HTML     69K  
                          Master Fund, L.P.)                                     
126: EX-10.2     Credit Agreement                                    HTML    611K  
142: EX-10.20    Financial Advisory Agreement (Pcap, L.P.)           HTML     69K  
143: EX-10.21    2007 Incentive Plan Executive Management of         HTML     69K  
                          Insurance Auto Auctions, Inc.                          
144: EX-10.22    Amended and Restated Employment Agreement (Thomas   HTML    104K  
                          C. O'Brien)                                            
145: EX-10.23    Limited Liability Company Agreement of Kar          HTML     78K  
                          Holdings Ii, LLC                                       
146: EX-10.24    Amended and Restated Limited Liability Company      HTML    338K  
                          Agm'T of Axle Holdings Ii, LLC                         
147: EX-10.25    Amendment to Amend & Rest. Limited Liability Co.    HTML     65K  
                          Agm'T of Axle Holdings Ii, LLC                         
148: EX-10.26    First Amend. to Amend & Rest. Ltd. Liability Co.    HTML     69K  
                          Agm'T of Axle Holdings Ii, LLC                         
149: EX-10.27    2007 Annual Incentive Program for Kar Holdings      HTML     71K  
150: EX-10.28    Tax Sharing Agreement                               HTML    168K  
151: EX-10.29    Trust Indenture                                     HTML    311K  
127: EX-10.3     Assumption Agreement                                HTML    108K  
152: EX-10.30    Bond Purchase Agreement                             HTML    152K  
153: EX-10.31    Lease Agreement                                     HTML    272K  
154: EX-10.32    Amended and Restated Purchase and Sale Agreement    HTML    239K  
155: EX-10.33    Amendment No. 1 to Amended and Restated Purchase    HTML     75K  
                          and Sale Agreement                                     
156: EX-10.34    Amendment No. 2 to Amended and Restated Purchase    HTML     70K  
                          and Sale Agreement                                     
157: EX-10.35    Amendment No. 3 to Amended and Restated Purchase    HTML     72K  
                          and Sale Agreement                                     
158: EX-10.36    Third Amended and Restated Receivables Purchase     HTML    865K  
                          Agreement                                              
128: EX-10.4     Intellectual Property Security Agreement            HTML    127K  
129: EX-10.5     Shareholders Agreement                              HTML    193K  
130: EX-10.8     Financial Advisory Agreement (Kelso & Company,      HTML     70K  
                          L.P.)                                                  
131: EX-10.9     Conversion Option Plan of Kar Holdings, Inc.        HTML    105K  
159: EX-12.1     Statement of Computation of Ratio of Earnings to    HTML    103K  
                          Fixed Charges                                          
160: EX-21.1     Subsidiaries of Kar Holdings, Inc.                  HTML     81K  
161: EX-23.1     Consent of Kpmg LLP                                 HTML     60K  
162: EX-23.2     Consent of Pricewaterhousecoopers LLP               HTML     58K  
163: EX-25.1     Form T-1 (Floating Rate Senior Notes)               HTML    132K  
164: EX-25.2     Form T-1 (Fixed Rate Senior Notes)                  HTML    130K  
165: EX-25.3     Form T-1 (Senior Subordinated Notes)                HTML    130K  
166: EX-99.1     Form of Letter to Clients                           HTML     71K  
167: EX-99.2     Form of Letter to Brokers, Dealers                  HTML     66K  


EX-25.1   —   Form T-1 (Floating Rate Senior Notes)


This exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



  Form T-1 (Floating Rate Senior Notes)  

Exhibit 25.1


SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


FORM T-1

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 


 

¨ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

 

A National Banking Association   94-1347393

(Jurisdiction of incorporation or

organization if not a U.S. national bank)

 

(I.R.S. Employer

Identification No.)

 

101 North Phillips Avenue

Sioux Falls, South Dakota

  57104
(Address of principal executive offices)   (Zip code)

Wells Fargo & Company

Law Department, Trust Section

MAC N9305-175

Sixth Street and Marquette Avenue, 17th Floor

Minneapolis, Minnesota 55479

(612) 667-4608

(Name, address and telephone number of agent for service)

 


KAR Holdings, Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   20-8744739

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

 

13085 Hamilton Crossing

Boulevard Carmel, Indiana

  46032
(Address of principal executive offices)   (Zip code)

 


Floating Rate Senior Notes Due 2014

(Title of the indenture securities)

 



1

See Table 1 – List of additional registrants


Table 1

TABLE OF ADDITIONAL REGISTRANTS

 

Name of Additional Registrant*

  

State or Other

Jurisdiction of

Incorporation

or

Formation

  

Primary

Standard

Industrial

Classification

Code Number

  

I.R.S Employer

Identification

Number

ADESA, Inc.

   Delaware    5010    35-1842546

ADESA Corporation, LLC

   Indiana    5010    35-1842546

A.D.E. of Ark-La-Tex, Inc.

   Louisiana    5010    72-1417504

A.D.E. of Knoxville, LLC

   Tennessee    5010    62-1532205

ADESA Ark-La-Tex, LLC

   Louisiana    5010    72-1419175

ADESA Arkansas, LLC

   Delaware    5010    71-0844203

ADESA Atlanta, LLC

   New Jersey    5010    58-2563132

ADESA Birmingham, LLC

   Alabama    5010    63-0980470

ADESA California, LLC

   California    5010    91-1811682

ADESA Charlotte, LLC

   North Carolina    5010    56-1853746

ADESA Colorado, LLC

   Colorado    5010    84-1555543

ADESA Dealer Services, LLC

   Indiana    5010    26-1218111

ADESA Des Moines, LLC

   Iowa    5010    42-1486117

ADESA Florida, LLC

   Florida    5010    35-1842547

ADESA Impact Texas, LLC

   Texas    5010    20-5233403

ADESA Indianapolis, LLC

   Indiana    5010    35-1915228

ADESA Lansing, LLC

   Michigan    5010    38-3406149

ADESA Lexington, LLC

   Kentucky    5010    61-1184881

ADESA Mexico, LLC

   Indiana    5010    35-1842546

ADESA Missouri, LLC

   Missouri    5010    43-1811816

ADESA New Jersey, LLC

   New Jersey    5010    22-3339600

ADESA New York, LLC

   New York    5010    16-1307133

ADESA Ohio, LLC

   Ohio    5010    31-1334072

ADESA Oklahoma, LLC

   Oklahoma    5010    73-1607773

ADESA Pennsylvania, LLC

   Pennsylvania    5010    25-1801698

ADESA Phoenix, LLC

   New Jersey    5010    86-1000467

ADESA San Diego, LLC

   California    5010    41-2021208

ADESA-South Florida, LLC

   Indiana    5010    35-1930710

ADESA Southern Indiana, LLC

   Indiana    5010    35-1929359

ADESA Texas, Inc.

   Texas    5010    74-2757736

ADESA Virginia, LLC

   Virginia    5010    20-2751571

ADESA Washington, LLC

   Washington    5010    91-2069348

ADESA Wisconsin, LLC

   Wisconsin    5010    39-1846227

AFC Cal, LLC

   California    5010    20-8709089

Asset Holdings III, L.P.

   Ohio    5010    20-8709089

Auto Dealers Exchange of Concord, LLC

   Massachusetts    5010    13-4284567

Auto Dealers Exchange of Memphis, LLC

   Tennessee    5010    04-3165540

Automotive Finance Consumer Division, LLC

   Indiana    5010    26-1218186

Automotive Finance Corporation

   Indiana    5010    35-1699152

Automotive Recovery Services, Inc.

   Indiana    5010    35-2123607

AutoVIN, Inc.

   Indiana    5010    35-2086523

PAR, Inc.

   Indiana    5010    35-2062003

Insurance Auto Auctions, Inc.

   Illinois    5010    95-3790111

Insurance Auto Auctions Corp.

   Delaware    5010    95-4455113

IAA Acquisition Corp.

   Delaware    5010    36-4351076

IAA Services, Inc.

   Illinois    7549    36-4294285

Auto Disposal Systems, Inc.

   Ohio    5010    31-0954761

ADS Ashland, LLC

   Ohio    5010    31-0954761

ADS Priority Transport Ltd.

   Ohio    5010    31-0954761

Dent Demon, LLC

   Indiana    5010    26-1530430

Sioux Falls Auto Auction, Inc.

   South Dakota    5010    46-0412455

Tri-State Auction Co., Inc.

   North Dakota    5010    45-0255813

Zabel & Associates, Inc.

   North Dakota    5010    45-0446447

Axle Holdings, Inc.

   Delaware    5010    20-2835651

* Addresses and telephone numbers of principal executive offices are the same as those of KAR Holdings, Inc.


Item 1. General Information. Furnish the following information as to the trustee:

 

(a)

   Name and address of each examining or supervising authority to which it is subject.
   Comptroller of the Currency
   Treasury Department
   Washington, D.C.
   Federal Deposit Insurance Corporation
   Washington, D.C.
   Federal Reserve Bank of San Francisco
   San Francisco, California 94120

(b)

   Whether it is authorized to exercise corporate trust powers.
   The trustee is authorized to exercise corporate trust powers.

 

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

None with respect to the trustee.

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

 

Item 15. Foreign Trustee. Not applicable.

 

Item 16. List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.

 

Exhibit 1.

   A copy of the Articles of Association of the trustee now in effect.*

Exhibit 2.

   A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**

Exhibit 3.

   See Exhibit 2

Exhibit 4.

   Copy of By-laws of the trustee as now in effect.***

Exhibit 5.

   Not applicable.

Exhibit 6.

   The consent of the trustee required by Section 321(b) of the Act.


Exhibit 7.

   A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.

Exhibit 8.

   Not applicable.

Exhibit 9.

   Not applicable.

* Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of Hornbeck Offshore Services LLC file number 333-130784-06.
** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.
*** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated May 26, 2005 of Penn National Gaming Inc. file number 333-125274.


SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Minneapolis and State of Minnesota on the 22nd day of January 2008.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ Jane Y. Schweiger

Jane Y. Schweiger

Vice President


EXHIBIT 6

1/22/2008

Securities and Exchange Commission

Washington, D.C. 20549

Gentlemen:

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

 

Very truly yours,
WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ Jane Schweiger

Jane Schweiger
Vice President


Consolidated Report of Condition of

Wells Fargo Bank National Association

of 101 North Phillips Avenue, Sioux Falls, SD 57104

And Foreign and Domestic Subsidiaries,

at the close of business September 30, 2007, filed in accordance with 12 U.S.C. §161 for National Banks.

 

         

Dollar Amounts

In Millions

ASSETS

     

Cash and balances due from depository institutions:

     

Noninterest-bearing balances and currency and coin

      $ 12,302

Interest-bearing balances

        1,022

Securities:

     

Held-to-maturity securities

        0

Available-for-sale securities

        48,254

Federal funds sold and securities purchased under agreements to resell:

     

Federal funds sold in domestic offices

        15,276

Securities purchased under agreements to resell

        1,881

Loans and lease financing receivables:

     

Loans and leases held for sale

        21,274

Loans and leases, net of unearned income

   277,174   

LESS: Allowance for loan and lease losses

   2,569   

Loans and leases, net of unearned income and allowance

        274,605

Trading Assets

        5,557

Premises and fixed assets (including capitalized leases)

        4,240

Other real estate owned

        861

Investments in unconsolidated subsidiaries and associated companies

        421

Intangible assets

     

Goodwill

        9,718

Other intangible assets

        19,391

Other assets

        30,644
         

Total assets

      $ 445,446
         

LIABILITIES

     

Deposits:

     

In domestic offices

      $ 269,857

Noninterest-bearing

   68,381   

Interest-bearing

   201,476   

In foreign offices, Edge and Agreement subsidiaries, and IBFs

        59,766

Noninterest-bearing

   11   

Interest-bearing

   59,755   

Federal funds purchased and securities sold under agreements to repurchase:

     

Federal funds purchased in domestic offices

        12,491

Securities sold under agreements to repurchase

        6,758


    

Dollar Amounts

In Millions

Trading liabilities

     3,109

Other borrowed money

  

(includes mortgage indebtedness and obligations under capitalized leases)

     26,482

Subordinated notes and debentures

     10,896

Other liabilities

     14,803
      

Total liabilities

   $ 404,162

Minority interest in consolidated subsidiaries

     57

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

     0

Common stock

     520

Surplus (exclude all surplus related to preferred stock)

     25,692

Retained earnings

     14,509

Accumulated other comprehensive income

     506

Other equity capital components

     0
      

Total equity capital

     41,227
      

Total liabilities, minority interest, and equity capital

   $ 445,446
      

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

 

               

Howard I. Atkins

               

    EVP & CFO

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us

and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate

Federal regulatory authority and is true and correct.

 

Michael Loughlin        
John Stumpf      Directors   
Carrie Tolstedt        

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘S-4’ Filing    Date    Other Filings
Filed as of:1/25/08
Filed on:1/24/08
9/30/07
12/30/05
5/26/0515-12G
3/3/04
2/4/04
 List all Filings 


18 Subsequent Filings that Reference this Filing

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