8-K 1 a36209.txt CIT EQUIPMENT COLLATERAL 2002-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-Sep-03 CIT Equipment Collateral 2002-VT1 A Delaware Commission File I.R.S. Employer Corporation No. 0001172747 No. 51-0407692 c/o Capita Corporation 1 CIT Drive, Livingston, New Jersey 07039 Telephone number: (973)740-5000 Page 2 of 8 Item 5. Other CIT Equipment Collateral 2002-VT1 Monthly Servicing Report

Page 3 of 8

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

IV. Information Regarding the Securities A Summary of Balance Information

B Other Information

Page 5 of 8 V. PRINCIPAL A. MONTHLY PRINCIPAL AMOUNT

VI. CONTRACT POOL DATA A. CONTRACT POOL CHARACTERISTICS

B. DELINQUENCY INFORMATION

Page 6 of 8 VII. MISCELLANEOUS INFORMATION A. SERVICER ADVANCE BALANCE 1. Opening Servicer Advance Balance 7,838,218.22 2. Current Period Servicer Advance 3,988,415.95 3. Recoveries of prior Servicer Advances -3,627,574.66 ------------- 4. Ending Servicer Advance Balance 8,199,059.51 B. CASH COLLATERAL ACCOUNT 1. Applicable Rates for the Interest Period: a. Libor Rate for the Interest Period 1.1100% b. Senior Loan Interest Rate 4.6100% c. Holdback Amount Interest Rate 7.1100% 2. Opening Cash Collateral Account 44,190,390.37 3. Deposit from the Collection Account 0.00 4. Withdrawals from the Cash Collateral Account (723,121.49) 5. Investment Earnings 31,888.01 6. Investment Earnings Distributions: a. Senior Loan Interest 0.00 b. Senior Loan Principal 0.00 c. Holdback Amount Interest -31,888.01 d. Holdback Amount Principal 0.00 ------------- Total Investment Earnings distributions -31,888.01 7. Remaining available amount 0.00 8. Required Cash Collateral Account Amount 41,686,458.18 9. Cash Collateral Account Surplus/ (Shortfall) 0.00 10. Distribution of CCA Surplus: a. Senior Loan Principal 0.00 b. Holdback Amount Principal -1,780,810.70 ------------- -1,780,810.70 11. Ending Cash Collateral Account 41,686,458.18 12. Cash Collateral Account deficiency 0.00 C. OTHER RELATED INFORMATION 1. Discount Rate 4.6150% 2. Life to Date Prepayment (CPR) 6.47% 3. Life to Date Substitutions: a. Prepayments 0.00 b. Defaults 0.00

Page 7 of 8 NCT Funding Company LLC, Allfirst Bank, as trustee under the Indenture, and Capita Corporation, 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 09/22/03 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. Capita Corporation Glenn Votek ----------- Glenn Votek Executive Vice President, and Treasurer

CIT EQUIPMENT COLLATERAL 2002-VT1 8-K