Form 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
|X| Quarterly Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934.
For the quarterly period ended June 30, 2001
|_| Transition Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934.
For the transition period from _______ to _______
Commission File Number 0-28368
ATEL Cash Distribution Fund VI, L.P.
(Exact name of registrant as specified in its charter)
California 94-3207229
- ---------- ----------
(State or other jurisdiction of (I. R. S. Employer
incorporation or organization) Identification No.)
235 Pine Street, 6th Floor, San Francisco, California 94104
(Address of principal executive offices)
Registrant's telephone number, including area code: (415) 989-8800
Indicate by a check mark whether the registrant (1) has 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) has been subject to such
filing requirements for the past 90 days.
Yes |X|
No |_|
DOCUMENTS INCORPORATED BY REFERENCE
None
1
Part I. FINANCIAL INFORMATION
Item 1. Financial Statements.
2
ATEL CASH DISTRIBUTION FUND VI, L.P.
BALANCE SHEETS
JUNE 30, 2001 AND DECEMBER 31, 2000
(Unaudited)
ASSETS
2001 2000
---- ----
Cash and cash equivalents $ 654,363 $ 1,947,276
Accounts receivable, net of allowance for
doubtful accounts of $585,186 in 2001
and $282,991 in 2000 5,064,719 7,595,825
Investments in leases 62,715,927 69,806,998
------------------ -----------------
Total assets $ 68,435,009 $79,350,099
================== =================
LIABILITIES AND PARTNERS' CAPITAL
Non-recourse debt $23,035,681 $28,971,912
Line of credit 1,000,000 -
Accounts payable:
General Partner 99,637 264,395
Other 562,419 331,385
Equipment purchases - 5,452
Accrued interest payable 281,529 1,102,361
Unearned operating lease income 92,834 137,196
------------------ -----------------
Total liabilities 25,072,100 30,812,701
Partners' capital:
General Partner (575,873) (472,607)
Limited Partners 43,938,782 49,010,005
------------------ -----------------
Total partners' capital 43,362,909 48,537,398
------------------ -----------------
Total liabilities and partners' capital $ 68,435,009 $79,350,099
================== =================
See accompanying notes.
3
ATEL CASH DISTRIBUTION FUND VI, L.P.
INCOME STATEMENTS
SIX AND THREE MONTH PERIODS ENDED
JUNE 30, 2001 AND 2000
(Unaudited)
Six Months Three Months
Ended June 30, Ended June 30,
-------------- --------------
2001 2000 2001 2000
---- ---- ---- ----
Revenues:
Leasing activities:
Operating lease revenues $ 8,903,137 $ 11,629,783 $ 4,542,267 $ 5,684,421
Direct financing leases 92,663 50,008 40,401 24,253
(Loss) gain on sales of assets (204,900) 4,103,425 (303,321) (151,483)
Interest income 39,121 69,109 13,225 65,631
Other 8,957 4,295 1,160 3,793
----------------- ------------------ ------------------ -----------------
8,838,978 15,856,620 4,293,732 5,626,615
Expenses:
Depreciation and amortization 4,790,040 9,070,151 2,374,269 4,022,590
Interest 1,175,687 1,730,157 535,308 625,801
Equipment and incentive management fees 454,693 490,528 165,796 285,252
Other 430,968 363,011 290,244 152,841
Cost reimbursements to General Partner 404,920 214,927 237,088 127,522
Professional fees 77,090 68,930 49,724 50,229
----------------- ------------------ ------------------ -----------------
7,333,398 11,937,704 3,652,429 5,264,235
----------------- ------------------ ------------------ -----------------
Net income $ 1,505,580 $ 3,918,916 $ 641,303 $ 362,380
================= ================== ================== =================
Net income:
General partner $ 15,056 $ 39,189 $ 6,413 $ 3,624
Limited partners 1,490,524 3,879,727 634,890 358,756
----------------- ------------------ ------------------ -----------------
$ 1,505,580 $ 3,918,916 $ 641,303 $ 362,380
================= ================== ================== =================
Weighted average number of units
outstanding 12,500,050 12,500,050 12,500,050 12,500,050
Net income per limited partnership unit $0.12 $0.31 $0.05 $0.03
See accompanying notes.
4
ATEL CASH DISTRIBUTION FUND VI, L.P.
STATEMENT OF CHANGES IN PARTNERS' CAPITAL
SIX MONTH PERIOD ENDED
JUNE 30, 2001
(Unaudited)
Limited Partners General
Units Amount Partner Total
Balance December 31, 2000 12,500,050 $ 49,010,005 $ (472,607) $48,537,398
Distributions to partners (6,561,747) (118,322) (6,680,069)
Net income 1,490,524 15,056 1,505,580
----------------- ------------------ ------------------ -----------------
Balance June 30, 2001 12,500,050 $ 43,938,782 $ (575,873) $43,362,909
================= ================== ================== =================
See accompanying notes.
STATEMENTS OF CASH FLOWS
SIX AND THREE MONTH PERIODS ENDED
JUNE 30, 2001 AND 2000
(Unaudited)
Six Months Three Months
Ended June 30, Ended June 30,
-------------- --------------
2001 2000 2001 2000
---- ---- ---- ----
Operating activities:
Net income $ 1,505,580 $ 3,918,916 $ 641,303 $ 362,380
Adjustments to reconcile net income to net
cash provided by operations
Depreciation and amortization 4,790,040 9,070,151 2,374,269 4,022,590
Loss (gain) on sales of assets 204,900 (4,103,425) 303,321 151,483
Changes in operating assets and liabilities:
Accounts receivable (2,268,894) 5,171,106 (1,045,143) 2,789,284
Accounts payable, general partner (164,758) (783,687) (71,112) 171,579
Accounts payable, other 231,034 (64,477) (6,788) (86,010)
Accrued interest expense 583,503 (1,124,372) 239,899 (1,451,971)
Unearned lease income (44,362) (236,679) (23,829) (1,267,429)
----------------- ------------------ ------------------ -----------------
Net cash provided by operating activities 4,837,043 11,847,533 2,411,920 4,691,906
----------------- ------------------ ------------------ -----------------
Investing activities:
Proceeds from sales of assets 1,943,083 18,853,784 1,795,005 734,807
Reduction in net investment in direct
financing leases 153,048 113,574 103,563 57,122
Purchase of equipment on operating leases (5,452) - (5,452) -
----------------- ------------------ ------------------ -----------------
Net cash provided by investing activities 2,090,679 18,967,358 1,893,116 791,929
----------------- ------------------ ------------------ -----------------
5
ATEL CASH DISTRIBUTION FUND VI, L.P.
STATEMENTS OF CASH FLOWS
(Continued)
SIX AND THREE MONTH PERIODS ENDED
JUNE 30, 2001 AND 2000
(Unaudited)
Six Months Three Months
Ended June 30, Ended June 30,
-------------- --------------
2001 2000 2001 2000
---- ---- ---- ----
Financing activities:
Distributions to partners (6,680,069) (6,562,374) (3,280,319) (3,281,047)
Repayment of long-term non-recourse debt (2,540,566) (10,994,350) (1,090,885) (3,998,370)
Borrowings on line of credit 2,000,000 - 1,000,000 -
Repayment of line of credit (1,000,000) (8,350,000) (1,000,000) -
----------------- ------------------ ------------------ -----------------
Net cash provided by financing activities (8,220,635) (25,906,724) (4,371,204) (7,279,417)
----------------- ------------------ ------------------ -----------------
Net (decrease) increase in cash and
cash equivalents (1,292,913) 4,908,167 (66,168) (1,795,582)
Cash at beginning of period 1,947,276 390,463 720,531 7,094,212
----------------- ------------------ ------------------ -----------------
Cash at end of period $ 654,363 $ 5,298,630 $ 654,363 $ 5,298,630
================= ================== ================== =================
Supplemental disclosure of cash flow
information:
Cash paid during the period for interest $ 592,184 $ 1,080,184 $ 295,409 $ 303,427
================= ================== ================== =================
Supplemental disclosure of non-cash transactions:
Offset of accounts receivable and debt service
per lease and debt agreement:
Accrued interest payable $(1,404,335) $(1,774,345) $ 0 $ 0
Non-recourse debt (3,395,665) (3,025,655) - -
----------------- ------------------ ------------------ -----------------
Accounts receivable $(4,800,000) $(4,800,000) $ 0 $ 0
================= ================== ================== =================
See accompanying notes.
6
ATEL CASH DISTRIBUTION FUND VI, L.P.
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
(Unaudited)
1. Summary of significant accounting policies:
Interim financial statements:
The unaudited interim financial statements reflect all adjustments which are, in
the opinion of the general partners, necessary to a fair statement of financial
position and results of operations for the interim periods presented. All such
adjustments are of a normal recurring nature. These unaudited interim financial
statements should be read in conjunction with the most recent report on Form
10K.
2. Organization and partnership matters:
ATEL Cash Distribution Fund VI, L.P. (the Fund), was formed under the laws of
the State of California on June 29, 1994, for the purpose of acquiring equipment
to engage in equipment leasing and sales activities.
The Partnership does not make a provision for income taxes since all income and
losses will be allocated to the Partners for inclusion in their individual tax
returns.
3. Investment in leases:
The Partnership's investment in leases consists of the following:
Depreciation
Expense or Reclass-
December 31, Amortization ifications & June 30,
2000 of Leases Dispositions 2001
---- --------- - ------------- ----
Net investment in operating leases $ 66,838,736 $(4,650,156) $(1,005,513) $61,183,067
Net investment in direct financing leases 1,019,935 (153,048) 49,064 915,951
Assets held for sale or lease 953,554 - (872,946) 80,608
Residual interests 379,551 - (345,391) 34,160
Reserve for losses (291,905) - 103,896 (188,009)
Initial direct costs, net of accumulated
amortization 907,127 (139,884) (77,093) 690,150
----------------- ------------------ ------------------ -----------------
$ 69,806,998 $(4,943,088) $(2,147,983) $62,715,927
================= ================== ================== =================
7
ATEL CASH DISTRIBUTION FUND VI, L.P.
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
(Unaudited)
3. Investment in leases (continued):
Property on operating leases
Reclassifications & Balance
December 31, Dispositions June 30,
------------
2000 1st Quarter 2nd Quarter 2001
---- ----------- ----------- ----
Transportation $ 85,622,871 $ (24,485) $(1,585,157) $84,013,229
Materials handling 16,923,148 (305,500) (1,690,107) 14,927,541
Construction 21,133,558 (396,262) (782,200) 19,955,096
Manufacturing 409,385 - - 409,385
Office automation 2,658,730 (88,770) (945,150) 1,624,810
Other 1,088,706 (295,751) 312,486 1,105,441
----------------- ------------------ ------------------ -----------------
127,836,398 (1,110,768) (4,690,128) 122,035,502
Less accumulated depreciation (60,997,662) (1,090,266) 1,235,493 (60,852,435)
----------------- ------------------ ------------------ -----------------
$ 66,838,736 $(2,201,034) $(3,454,635) $61,183,067
================= ================== ================== =================
All of the property on leases was acquired in 1995, 1996 and 1997.
At June 30, 2001, the aggregate amounts of future minimum lease payments are as
follows:
Direct
Year ending Operating Financing
December 31, Leases Leases Total
------------ ------ ------ -----
2001 $ 6,097,665 $ 167,896 $ 6,265,561
2002 7,245,762 303,076 7,548,838
2003 3,291,168 110,355 3,401,523
2004 2,799,419 110,355 2,909,774
2005 2,708,774 98,760 2,807,534
Thereafter 12,152,229 197,585 12,349,814
----------------- ------------------ ------------------
$ 34,295,017 $ 988,027 $ 35,283,044
================= ================== ==================
8
ATEL CASH DISTRIBUTION FUND VI, L.P.
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
(Unaudited)
4. Non-recourse debt:
Notes payable to financial institutions are due in varying monthly and
semi-annual installments of principal and interest. The notes are secured by
assignments of lease payments and pledges of the assets which were purchased
with the proceeds of the particular notes. Interest rates on the notes vary from
6.33% to 12.22%.
Future minimum principal payments of non-recourse debt are as follows:
Year ending
December 31, Principal Interest Total
------------ --------- -------- -----
2001 $ 1,322,975 $ 493,824 $ 1,816,799
2002 5,743,147 1,826,594 7,569,741
2003 5,486,383 1,237,053 6,723,436
2004 821,505 633,381 1,454,886
2005 476,034 591,844 1,067,878
Thereafter 9,185,637 3,042,044 12,227,681
----------------- ------------------ ------------------
$ 23,035,681 $ 7,824,740 $ 30,860,421
================= ================== ==================
5. Related party transactions:
The terms of the Limited Partnership Agreement provide that the General Partner
and/or Affiliates are entitled to receive certain fees for equipment
acquisition, management and resale and for management of the Partnership.
The General Partner and/or Affiliates earned fees, commissions and
reimbursements, pursuant to the Limited Partnership Agreement during the six
month periods ended June 30, 2001 and 2000 as follows:
2001 2000
---- ----
Incentive management fees (computed as 3.25% of distributions of cash from
operations, as defined in the Limited Partnership Agreement) and equipment
management fees (computed as 3.5% of gross revenues from operating leases, as
defined in the Limited Partnership Agreement plus 2% of gross revenues from full
payout leases, as defined in the Limited Partnership Agreement). $ 454,693 $ 490,528
Reimbursement of administrative costs 404,920 214,927
------------------ -----------------
$ 859,613 $ 705,455
================== =================
9
ATEL CASH DISTRIBUTION FUND VI, L.P.
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
(Unaudited)
6. Partner's capital:
As of June 30, 2001, 12,500,050 Units ($125,000,500) were issued and
outstanding. The Fund's registration statement with the Securities and Exchange
Commission became effective November 23, 1994 and its offering was concluded on
November 23, 1996. The Fund is authorized to issue up to 12,500,050 Units,
including the 50 Units issued to the initial limited partners.
The Partnership Net Profits, Net Losses, and Tax Credits are to be allocated 99%
to the Limited Partners and 1% to the General Partner.
Available Cash from Operations and Cash from Sales and Refinancing, as defined
in the Limited Partnership Agreement, shall be distributed as follows:
First, 95% (95.75% after June 30, 1995) of Distributions of Cash from Operations
to the Limited Partners, 1% of Distributions of Cash from Operations to the
General Partner and 4% (3.25% after June 30, 1995) ( to an affiliate of the
General Partner as Incentive Management Compensation, 99% of Distributions of
Cash from Sales or Refinancing to the Limited Partners and 1% of Cash from Sales
or Refinancing to the General Partner.
Second, the balance to the Limited Partners until the Limited Partners have
received Aggregate Distributions in an amount equal to their Original Invested
Capital, as defined, plus a 8% per annum cumulative (compounded daily) return on
their Adjusted Invested Capital.
Third, an affiliate of the General Partner will receive as Incentive Management
Compensation, 4% (3.25% after June 30, 1995) of remaining Cash from Sales or
Refinancing.
Fourth, the balance to the Limited Partners.
7. Line of credit:
The Partnership participates with the General Partner and certain of its
Affiliates in a $62,000,000 revolving credit agreement with a group of financial
institutions which expires on April 12, 2002. The agreement includes an
acquisition facility and a warehouse facility which are used to provide bridge
financing for assets on leases. Draws on the acquisition facility by any
individual borrower are secured only by that borrower's assets, including
equipment and related leases. Borrowings on the warehouse facility are recourse
jointly to certain of the Affiliates, the Partnership and the General Partner.
The Partnership had $2,000,000 of borrowings under the agreement at June 30,
2001.
The credit agreement includes certain financial covenants applicable to each
borrower. The Partnership was in compliance with its covenants as of June 30,
2001.
10
Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations
Capital Resources and Liquidity
During the first half of 2001, the Partnership's primary activity was engaging
in equipment leasing activities.
The liquidity of the Partnership will vary in the future, increasing to the
extent cash flows from leases exceed expenses, and decreasing as lease assets
are acquired, as distributions are made to the limited partners and to the
extent expenses exceed cash flows from leases.
As another source of liquidity, the Partnership has contractual obligations with
a diversified group of lessees for fixed lease terms at fixed rental amounts. As
the initial lease terms expire, the Partnership will re-lease or sell the
equipment. The future liquidity beyond the contractual minimum rentals will
depend on the General Partner's success in re-leasing or selling the equipment
as it comes off lease.
The Partnership participates with the General Partner and certain of its
affiliates in a $62,000,000 revolving line of credit with a group of financial
institutions. The line of credit expires on April 12, 2002.
The Partnership anticipates reinvesting a portion of lease payments from assets
owned in new leasing transactions. Such reinvestment will occur only after the
payment of all obligations, including debt service (both principal and
interest), the payment of management and acquisition fees to the General Partner
and providing for cash distributions to the Limited Partners.
The Partnership currently has available adequate reserves to meet contingencies,
but in the event those reserves were found to be inadequate, the Partnership
would likely be in a position to borrow against its current portfolio to meet
such requirements. The General Partner envisions no such requirements for
operating purposes.
As of June 30, 2001, the Partnership had borrowed $100,521,405 with a remaining
unpaid balance of $23,035,681. The General Partner expects that aggregate
borrowings in the future will not exceed 50% of aggregate equipment cost. In any
event, the Agreement of Limited Partnership limits such borrowings to 50% of the
total cost of equipment, in aggregate.
No commitments of capital have been or are expected to be made other than for
the acquisition of additional equipment. There were no such commitments as of
June 30, 2001.
If inflation in the general economy becomes significant, it may affect the
Partnership inasmuch as the residual (resale) values and rates on re-leases of
the Partnership's leased assets may increase as the costs of similar assets
increase. However, the Partnership's revenues from existing leases would not
increase, as such rates are generally fixed for the terms of the leases without
adjustment for inflation.
If interest rates increase significantly, the lease rates that the Partnership
can obtain on future leases will be expected to increase as the cost of capital
is a significant factor in the pricing of lease financing. Leases already in
place, for the most part, would not be affected by changes in interest rates.
11
Cash Flows, 2001 vs. 2000:
Six months:
In 2001 and 2000, the Partnership's primary source of cash was rents from
operating leases. Cash provided by operations decreased by $7,010,490 (from
$11,847,533 in 2000 to $4,837,043 in 2001).
The most significant source of cash from investing activities in 2001 and 2000
was proceeds from sales of lease assets. Asset sales were particularly
significant in the first quarter of 2000. Most of the sales proceeds were used
to pay off the line of credit and to pay down the Partnership's non-recourse
debt in 2000. Cash flows from direct financing leases were not as significant in
either period.
In 2001, the only source of cash from financing activities was borrowings on the
line of credit. In 2000, there were no sources of cash flows from financing
activities. Payments of non-recourse debt have decreased as a result of
scheduled debt payments over the last year.
Three months:
Operating lease rents were the primary source of cash from operating activities
in 2001 and 2000.
As noted above for the six month period, proceeds from asset sales and direct
financing lease rents were the only sources of cash from investing activities in
2001 and 2000.
In 2001, the only financing source of cash was the amounts borrowed under the
line of credit. There were no sources of cash from financing activities in 2000.
Debt payments have decreased for the same reasons noted above for the six month
periods.
Results of operations
In 2001, operations resulted in net income of $1,505,580 (six months) and
$641,303 (three months). In 2000, operations resulted in net income of
$3,918,916 (six months) and $362,380 (three months). The Partnership's primary
source of revenues is from operating leases. This is expected to remain true in
future periods. Gains and losses on sales of lease assets are not expected to be
consistent from one period to another. Depreciation expense is the single
largest expense of the Partnership and is expected to remain so in future
periods. Operating lease rents and depreciation expense decreased compared to
2000 due to sales of lease assets over the last year. As Interest expense is
related to the borrowings under the line of credit and non-recourse debt and has
decreased because of decreased debt balances compared to 2000.
PART II. OTHER INFORMATION
Item 1. Legal Proceedings.
Quaker Coal Company:
On December 31, 1997, Quaker Coal Company requested a moratorium on lease
payments from January through March 1998. No lease payments were made by the
lessee through June of 1998, and as a result, the General Partner declared the
lease in default. Subsequently, the lessee cured the outstanding payments and
eventually satisfied substantially all lease payments due under the Lease;
however, the General Partner refused to waive the default and insisted on
contractual damages. The General Partner filed a suit against the lessee for its
contractual damages in the U.S. District Court of Northern California (the
"Court") (Case No. 98-02971 THE). On June 16, 2000, the lessee filed for
protection under Chapter 11 of the U.S. Bankruptcy Code. The amounts of these
damages have not been included in the financial statements included in Part I,
Item 1 of this report.
12
The Partnership obtained a stipulation for relief from the automatic bankruptcy
stay to allow the Court to issue its ruling, and filed a request to participate
on the Official Committee of Unsecured Creditors in the bankruptcy proceedings.
The Partnership succeeded upon securing the return of its equipment, which has
been liquidated, netting approximately 17% of the original equipment cost. The
Court issued a ruling on March 4, 2001, denying the Partnership's claim for
damages. The Lessee subsequently filed a claim against the Partnership, for
reimbursement of its legal expenses. The General Partner believes the Court's
decision is erroneous, as a matter law, and has filed an appeal of the decision
in the U.S. District Court of Appeals.
The lessee filed a plan of reorganization, which has been objected to by several
large creditors, including the General Partner. These creditors are also seeking
a formal role on the creditors committee or formation of their own committee.
Currently, the likelihood of recovery of amounts above the payment of the lease
rent and the liquidation of the equipment is speculative and highly uncertain.
The Pittston Company:
On December 17, 1999, Elkay Mining Company, a subsidiary of The Pittston
Company, filed a suit for declaratory relief in response to a notice of event of
default sent by the Partnership. The dispute surrounds the treatment by the
lessee of a defect in the leased equipment, and the lessee's failure to notify
that lessor of the defect in the equipment. All lease payments under that lease
were made in a timely manner, and the equipment was returned and liquidated by
the Partnership for $112,501.04, which is approximately 6% of the original
equipment cost. The Partnership feels that it has suffered damages and loss as a
result of actions of the Lessee, in the amount of $773,402, which represents the
difference in the proceeds netted from the sale of the equipment and the
liquidated damages due under the lease.
This matter has been litigated and the parties are awaiting decision from the
Court. The Partnership has also compelled the Lessee to mediate this dispute in
San Francisco, California as required by the lease contract. The General Partner
believes that it has a reasonable basis for prevailing with respect to this
matter.
Applied Magnetics Corporation:
In January 2000, Applied Magnetics Corporation filed for protection from
creditors under Chapter 11 of the U. S. Bankruptcy Code. The Partnership has
assets with a total net book value of $5,113,290 leased to Applied Magnetics
Corporation. On January 31, 2000, the General Partner was appointed to the
Official Committee of Unsecured Creditors and currently serves as the
Chairperson of the Committee. Procedures were quickly undertaken for the
liquidation of the Partnership's leased equipment, which proceeds resulted in
the satisfaction of a portion of the non-recourse debt secured by the equipment.
As of November 1, 2000, liquidation of the assets was completed.
The Partnership anticipates additional amounts may be recoverable through the
reorganization of the lessee's business, however, any recoveries above the
amounts received upon liquidation of the Partnership's equipment are highly
uncertain and speculative.
13
Item 2. Changes In Securities.
Inapplicable.
Item 3. Defaults Upon Senior Securities.
Inapplicable.
Item 4. Submission Of Matters To A Vote Of Security Holders.
Inapplicable.
Item 5. Other Information.
Inapplicable.
Item 6. Exhibits And Reports On Form 8-K.
(a)Documents filed as a part of this report
1. Financial Statements
Included in Part I of this report: Balance Sheets, June 30, 2001 and
December 31, 2000.
Statements of operations for the six and three month periods ended
June 30, 2001 and 2000.
Statement of changes in partners' capital for the six month period
ended June 30, 2001.
Statements of cash flows for the six and three month periods ended
June 30, 2001 and 2000.
Notes to the Financial Statements
2. Financial Statement Schedules.
All other schedules for which provision is made in the applicable
accounting regulations of the Securities and Exchange Commission are
not required under the related instructions or are inapplicable, and
therefore have been omitted.
(b) Report on Form 8-K
None
14
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date:
August 8, 2001
ATEL CASH DISTRIBUTION FUND VI, L.P.
(Registrant)
By: ATEL Financial Services, LLC
General Partner of Registrant
By: /s/ DEAN L. CASH
------------------------------------
Dean L. Cash
President and Chief Executive
Officer of General Partner
By: /s/ PARITOSH K. CHOKSI
-------------------------------------
Paritosh K. Choksi
Executive Vice President of
General Partner, Principal
financial officer of registrant
By: /s/ DONALD E. CARPENTER
--------------------------------------
Donald E. Carpenter
Principal accounting
officer of registrant
15