FORM 10-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934.
For the fiscal year ended December 31, 1999.
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE AT OF 1934.
For the transition period from ______________ to ______________.
CHARTER EQUIPMENT LEASE 1999-1 LLC (f/k/a Charter Equipment Lease 1998-1 LLC)
(exact name of Registrants as specified in their charters)
Delaware
(state of incorporation or organization)
530 Fifth Avenue
New York, New York 10036
(212) 399-7777
(Address and Telephone Number of Principal Executive Officers)
Securities Registered Pursuant to Section 12(b) of the Securities Exchange Act
of 1934: None.
Securities Registered Pursuant to Section 12(g) of the Securities Exchange Act
of 1934: None
Indicate by check mark whether the Registrants (1) have filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) have been subject to such
filing requirements for the past 90 days.
Yes ___ No _X_
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of the Registrants' knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [X]
The aggregate market value of the voting stock held by non-affiliates of
the Registrants. None.
<PAGE>
PART I
Item 1. Business
The Registrant is a wholly-owned bankruptcy-remote subsidiary of Charter
Funding Corporation V. The Registrant was formed solely for the purpose of
acquiring from Charter Funding Corporation V certain leases (the "Leases")
and interests in the equipment underlying the leases (the "Equipment"), and
securitizing the Leases and the Equipment through the issuance of debt
securities (the "Notes"). As a bankruptcy-remote entity, the Registrant's
operations are restricted so that (a) it does not engage in business with,
or incur liabilities to, any entity (other than the indenture trustee on
behalf of the holders of the Notes and Charter Financial Funding
Corporation V) which may bring bankruptcy proceedings against the
Registrant and (b) the risk that it will be consolidated into the
bankruptcy proceedings of any other entity is diminished. The Registrant
has no other assets except the Leases and the Equipment, and proceeds
thereof.
Item 2. Properties
None.
Item 3. Legal Proceedings
None.
Item 4. Submission of Matters to a Vote of Security Holders
None.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters
The sole holder of the equity shares of Charter Equipment Lease 1999-1 LLC
is Charter Funding Corporation V. There is currently no market for such
equity shares nor is it anticipated that such a market will develop.
Item 6. Selected Financial Data
Not Applicable.
2
<PAGE>
Item 7. Management's Discussion and Analysis of Financial Condition and Results
of Operations
Not Applicable.
Item 8. Financial Statements and Supplemental Data
Not Applicable.
Item 9. Change in and Disagreements on Accounting and Financial Disclosure
None.
PART III
Item 10. Directors and Officers of the Registrant
Not Applicable.
Item 11. Executive Compensation
Not Applicable.
Item 12. Security Ownership of Certain Beneficial Owners and Management
Not Applicable.
Item 13. Certain Relationships and Related Transactions
Not Applicable.
3
<PAGE>
PART IV
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K
Exhibit
Number Description
------ -----------
19.1 Servicer's Report for the payment period ending in October 1999.
19.2 Servicer's Report for the payment period ending in November 1999.
19.3 Servicer's Report for the payment period ending in December 1999.
4
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities and
Exchange Act of 1934, Charter Equipment Lease 1999-1 LLC has duly caused this
report to be signed on its behalf by the undersigned, thereunder duly
authorized.
CHARTER EQUIPMENT LEASE 1999-1 LLC
By: Charter Funding Corporation V,
as Managing Member
By: /s/ Gary Corr
---------------------------------
Name: Gary Corr
Title: President & Director
Dated: October 19, 2000
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of Charter
Funding Corporation V as Managing Member of Charter Equipment Lease 1999-1 LLC.
By: /s/ Robert J. Kantor
---------------------------------
Name: Robert J. Kantor
Title: Vice President & Treasurer
By: /s/ Stewart Abramson
---------------------------------
Name: Stewart Abramson
Title: Vice President & Secretary
By: /s/ Alan A. Fisher
---------------------------------
Name: Alan A. Fisher
Title: Director
By: /s/ Henry Frommer
--------------------------------
Name: Henry Frommer
Title: Director
Dated October 19, 2000
5
<PAGE>
Exhibit Index
Exhibit
Number Description
------ -----------
19.1 Servicer's Report for the payment period ending in October 1999.
19.2 Servicer's Report for the payment period ending in November 1999.
19.3 Servicer's Report for the payment period ending in December 1999.
