SEC Info - Atel 16, LLC - ‘10-Q’ for 6/30/22

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Atel 16, LLC – ‘10-Q’ for 6/30/22 – ‘R13’

On: Friday, 8/12/22, at 1:27pm ET · For: 6/30/22 · Accession #: 1558370-22-13452 · File #: 0-55417

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

 8/12/22  Atel 16, LLC                      10-Q        6/30/22   66:7.4M                                   Toppan Merrill Bridge/FA

Quarterly Report — Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.64M 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     24K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     24K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     22K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     22K 
11: R1          Document and Entity Information                     HTML     74K 
12: R2          Balance Sheets                                      HTML     85K 
13: R3          Statements of Operations                            HTML    101K 
14: R4          Statements of Changes in Members' Capital           HTML     42K 
15: R5          Statements of Changes in Members' Capital           HTML     22K 
                (Parenthetical)                                                  
16: R6          Statements of Cash Flows                            HTML    106K 
17: R7          Organization and Limited Liability Company Matters  HTML     26K 
18: R8          Summary of Significant Accounting Policies          HTML    109K 
19: R9          Notes Receivable, Net                               HTML     22K 
20: R10         Investments in equipment and leases, net            HTML    111K 
21: R11         Allowance for Credit Losses                         HTML    116K 
22: R12         Related Party Transactions                          HTML     47K 
23: R13         Non-Recourse Debt                                   HTML     45K 
24: R14         Borrowing Facilities                                HTML     22K 
25: R15         Commitments and contingencies                       HTML     22K 
26: R16         Members' Capital                                    HTML     43K 
27: R17         Fair Value Measurements                             HTML    227K 
28: R18         Summary of Significant Accounting Policies          HTML    142K 
                (Policy)                                                         
29: R19         Summary of Significant Accounting Policies          HTML     78K 
                (Tables)                                                         
30: R20         Investments in equipment and leases, net (Tables)   HTML    114K 
31: R21         Allowance for Credit Losses (Tables)                HTML    118K 
32: R22         Related Party Transactions (Tables)                 HTML     42K 
33: R23         Non-Recourse Debt (Tables)                          HTML     42K 
34: R24         Members' Capital (Tables)                           HTML     40K 
35: R25         Fair Value Measurements (Tables)                    HTML    229K 
36: R26         Organization and Limited Liability Company Matters  HTML     55K 
                (Narrative) (Details)                                            
37: R27         Summary of Significant Accounting Policies          HTML     96K 
                (Narrative) (Details)                                            
38: R28         Summary of Significant Accounting Policies          HTML     53K 
                (Summary of Geographic Information Relating to                   
                Sources, by Nation, of Partnership's Total Revenue               
                and Long-Lived Assets) (Details)                                 
39: R29         Notes Receivable, Net (Narrative) (Details)         HTML     30K 
40: R30         Investments in equipment and leases, net            HTML     38K 
                (Narrative) (Details)                                            
41: R31         Investments in equipment and leases, net            HTML     34K 
                (Investment in Leases) (Details)                                 
42: R32         Investments in equipment and leases, net (Property  HTML     64K 
                on Operating Leases) (Details)                                   
43: R33         Investments in equipment and leases, net (Future    HTML     35K 
                Minimum Lease Payments Receivable) (Details)                     
44: R34         Investments in equipment and leases, net (Schedule  HTML     53K 
                of Useful Lives of Lease Assets) (Details)                       
45: R35         Allowance for Credit Losses (Narrative) (Details)   HTML     24K 
46: R36         Allowance for Credit Losses (Activity in Allowance  HTML     25K 
                for Credit Losses) (Details)                                     
47: R37         Allowance for Credit Losses (Financing Receivables  HTML     30K 
                by Credit Quality Indicator and by Class)                        
                (Details)                                                        
48: R38         Allowance for Credit Losses (Net Investment in      HTML     41K 
                Financing Receivables by Age) (Details)                          
49: R39         Related Party Transactions (Affiliates Earned       HTML     28K 
                Commissions and Billed for Reimbursements Pursuant               
                to Operating Agreement) (Details)                                
50: R40         Non-Recourse Debt (Narrative) (Details)             HTML     33K 
51: R41         Non-Recourse Debt (Future Minimum Payments of       HTML     69K 
                Non-Recourse Debt) (Details)                                     
52: R42         Borrowing Facilities (Narrative) (Details)          HTML     21K 
53: R43         Commitments and Contingencies (Narrative)           HTML     23K 
                (Details)                                                        
54: R44         Members' Capital (Narrative) (Details)              HTML     42K 
55: R45         Members' Capital (Distributions to Other Members)   HTML     30K 
                (Details)                                                        
56: R46         Fair Value Measurements (Narrative) (Details)       HTML     33K 
57: R47         Fair Value Measurements (Warrants Measured on       HTML     25K 
                Recurring Basis) (Details)                                       
58: R48         Fair Value Measurements (Investment Securities      HTML     27K 
                Measured on Recurring Basis) (Details)                           
59: R49         Fair Value Measurements (Fair Value Measurement of  HTML     34K 
                Assets and Liabilities Measured at Fair Value on a               
                Non-Recurring Basis) (Details)                                   
60: R50         Fair Value Measurements (Summary of Valuation       HTML     64K 
                Techniques and Significant Unobservable Inputs                   
                Used) (Details)                                                  
61: R51         Fair Value Measurements (Estimated Fair Values of   HTML     57K 
                Financial Instruments) (Details)                                 
64: XML         IDEA XML File -- Filing Summary                      XML    121K 
62: XML         XBRL Instance -- tmb-20220630x10q_htm                XML   2.19M 
63: EXCEL       IDEA Workbook of Financial Reports                  XLSX    122K 
 7: EX-101.CAL  XBRL Calculations -- tmb-20220630_cal                XML    177K 
 8: EX-101.DEF  XBRL Definitions -- tmb-20220630_def                 XML    483K 
 9: EX-101.LAB  XBRL Labels -- tmb-20220630_lab                      XML    887K 
10: EX-101.PRE  XBRL Presentations -- tmb-20220630_pre               XML    753K 
 6: EX-101.SCH  XBRL Schema -- tmb-20220630                          XSD    172K 
65: JSON        XBRL Instance as JSON Data -- MetaLinks              281±   439K 
66: ZIP         XBRL Zipped Folder -- 0001558370-22-013452-xbrl      Zip    266K

‘R13’ — Non-Recourse Debt

This is an IDEA Financial Report. [ Alternative Formats ]

Non-Recourse Debt

6 Months Ended

Jun. 30, 2022

Non-Recourse Debt [Abstract]

Non-Recourse Debt

7. Non-recourse debt:

At June 30, 2022, non-recourse debt consists of notes payable to financial institutions. The notes are due in monthly installments. Interest on the notes is at fixed rates ranging from 3.62% to 4.71% per annum. The notes are secured by assignments of lease payments and pledges of assets. At June 30, 2022, gross operating lease rentals totaled approximately $1.8 million over the remaining lease terms; and the carrying value of the pledged assets is $3.2 million. The notes mature at various dates from 2022 to 2028.

The non-recourse debt does not contain any material financial covenants. The debt is secured by a specific lien granted by the Company to the non-recourse lender on (and only on) the discounted lease transactions. The lender has recourse only to the following collateral: the leased equipment; the related lease chattel paper; the lease receivables; and proceeds of the foregoing items. The non-recourse obligation is payable solely out of the respective specific security and the Company does not guarantee (nor is the Company otherwise contractually responsible for) the payment of the non-recourse debt as a general obligation or liability of the Company. Although the Company does not have any direct or general liability in connection with the non-recourse debt apart from the security granted, the Company is directly and generally liable and responsible for certain representations, warranties, and covenants made to the lender, such as warranties as to genuineness of the transaction parties’ signatures, as to the genuineness of the respective lease chattel paper or the transaction as a whole, or as to the Company’s good title to or perfected interest in the secured collateral, as well as similar representations, warranties and covenants typically provided by non-recourse borrowers and customary in

the equipment finance industry, and are viewed by such industry as being consistent with non-recourse discount financing obligations. Accordingly, as there are no financial covenants or ratios imposed on the Company in connection with the non-recourse debt, the Company has determined that there are no material covenants with respect to the non-recourse debt that warrant footnote disclosure.

Future minimum payments of non-recourse debt are as follows (in thousands):


	Principal		Interest		Total
Six months ending December 31, 2022	$	502	$	32	$	534
Year ending December 31, 2023		343		43		386
2024		290		28		318
2025		159		19		178
2026		138		12		150
Thereafter		183		8		191
	$	1,615	$	142	$	1,757

Dates Referenced Herein

This ‘10-Q’ Filing	Date	Other Filings

	12/31/23	None on these Dates
	12/31/22
Filed on:	8/12/22
For Period end:	6/30/22
		List all Filings

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Filing Submission 0001558370-22-013452 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)