8-K 1 a35645.txt CIT EQUIPMENT COLLATERAL 2003-VT1 Securities and Exchange Commission Washington, DC 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report: 18-Jun-03 CIT Equipment Collateral 2003-VT1 A Delaware Commission File I.R.S. Employer Corporation No. 0001240986 No. 22-3634034 c/o CIT Financial USA, Inc. 1 CIT Drive, Livingston, New Jersey 07039 Telephone number: (973)740-5000 Page 2 of 8 Item 5. Other CIT Equipment Collateral 2003-VT1 Monthly Servicing Report Determination Date: 06/18/03 Collection Period: 05/31/03 Payment Date: 06/20/03

~~Exhibit No~~I. ~~Description~~AVAILABLE ~~-----------~~FUNDS ~~----------- 1~~A.1 ~~Underwriting~~Available ~~Agreement~~Pledged ~~among~~Revenues ~~NCT Funding Company, L~~a.~~L.C.,~~ ~~CIT~~Scheduled ~~Financial~~Payments ~~USA,~~Received ~~Inc.~~$24, ~~Banc One Capital Markets~~592,802.12 ~~Inc~~b. ~~and~~Liquidation ~~Wachovia~~Proceeds ~~Securities,~~Allocated ~~LLC,~~to ~~each~~Owner onTrust ~~behalf~~0.00 ofc. ~~itself~~Required ~~and~~Payoff asAmounts ~~representatives~~ of ~~the~~Prepaid ~~several~~Contracts ~~underwriters~~1, ~~dated June 4~~817, ~~2003~~602.85 4d.1 ~~Indenture~~Required ~~between~~Payoff ~~the~~Amounts ~~CIT~~of ~~Equipment~~Purchased ~~Collateral~~Contracts ~~2003-VT1 as Issuer and JPMorgan Chase Bank as Indenture Trustee~~281,267.19 ~~dated~~e. asProceeds of ~~May~~Clean-up 1,Call ~~2003~~0.00 4f.2 ~~Amended~~Investment ~~and~~Earnings ~~Restated~~on ~~Trust~~Collection ~~Agreement~~Account ~~between NCT Funding Company, L.L.C. as Trust Depositor, The Bank of New York (Delaware) as Delaware Trustee~~ and ~~The~~Note ~~Bank~~Distribution ofAccount ~~New York as Owner Trustee, dated as of May 1, 2003~~0.00 ~~4.3~~-------------- ~~Pooling~~Total ~~and~~Available ~~Servicing~~Pledged ~~Agreement~~Revenues ~~among~~= ~~CIT Equipment Collateral 2003-VT1 as Issuer~~$26, ~~NCT Funding Company~~691, L672.~~L.C.~~16 ~~as Depositor, CIT Financial USA, Inc~~B. inDetermination ~~its individual capacity, and as Servicer, dated as~~ of ~~May~~Available 1,Funds ~~2003~~a. ~~10.1~~Total ~~Loan~~Available ~~Agreement~~Pledged ~~among~~Revenues ~~CIT Equipment Collateral 2003-VT1 as the Trust~~$26, ~~JPMorgan Chase Bank as Indenture Trustee~~691, ~~NCT Funding Company, L~~672.~~L.C.~~16 ~~as Trust Depositor, CIT Financial USA, Inc~~b. inReceipt ~~its individual capacity and as Servicer, the lender parties thereto~~ from ~~time~~Class toA-3a ~~time,~~Swap ~~and~~Counterparty ~~Capita Corporation as Agent, dated as of May 1, 2003~~0.00 10c.2 ~~Administration~~Servicer ~~Agreement~~Advances ~~among CIT Equipment Collateral 2003-VT1 as Issuer~~5, ~~CIT Financial USA~~285, ~~Inc~~723.,32 ~~as Administrator, NCT Funding Company, L~~d.~~L.C.~~ asRecoveries ~~Trust Depositor, and JPMorgan Chase Bank, as Indenture Trustee, dated as~~ of ~~May~~prior 1,Servicer ~~2003~~Advances 0.00 10e.3 ~~ISDA~~Withdrawal ~~Master~~from ~~Agreement~~Cash ~~and Schedule between Bank One, NA as Swap Counterparty and CIT Equipment~~ Collateral ~~2003-VT1~~Account ~~as the Trust, dated, June 4, 2003~~0.00 ~~10.4 Confirmation for Class A~~-3a------------- ~~Swap~~Total ~~Transaction~~Available ~~between~~Funds ~~Bank~~= ~~One~~$31, ~~NA as Swap Counterparty and CIT Equipment Collateral 2003-VT1 as the Trust~~977,395.48 ~~dated June 4, 2003~~==============

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Page 4 of 8 III. INFORMATION REGARDING DISTRIBUTIONS ON THE SECURITIES

IV. Information Regarding the Securities

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Page 7 of 8 NCT Funding Company LLC, JPMorgan Chase, as trustee under the Indenture, and CIT Financial USA, Inc., in its individual capacity and as Servicer, DO HEREBY CERTIFY that I am a Responsible Officer of the Servicer and, pursuant to Section 9.02 of the Pooling and Servicing Agreement, I DO HEREBY FURTHER CERTIFY the following report with respect to the Payment Date occurring on 06/20/03 This Certificate shall constitute the Servicer's Certificate as required by Section 9.02 of the Pooling and Servicing Agreement with respect to the above Payment Date. Any term capitalized but not defined herein shall have the meaning ascribed thereto in the Pooling and Servicing Agreement. CIT Financial USA, Inc. Glenn Votek ----------- Glenn Votek Executive Vice President, and Treasurer Page 8 of 8

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