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.
Item 2. Properties
None.
Item 3.
Item 3. Legal Proceedings
None.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders
None.
PART II
Item 5.
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.
Item 6. Selected Financial Data
Not Applicable.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
Not Applicable.
Item 8.
Item 8. Financial Statements and Supplemental Data
Not Applicable.
Item 9.
Item 9. Change in and Disagreements on Accounting and Financial Disclosure
None.
PART III
Item 10.
Item 10. Directors and Officers of the Registrant
Not Applicable.
Item 11.
Item 11. Executive Compensation
Not Applicable.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management
Not Applicable.
Item 13.
Item 13. Certain Relationships and Related Transactions
Not Applicable.
PART IV
Item 14.
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.
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
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.