8-K 1 a36258.txt CIT EQUIPMENT COLLATERAL SERIES 2003-EF1 SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 -------------- F O R M 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 25, 2003 CIT Equipment Collateral 2003-EF1 --------------------------------- (Exact name of registrant as specified in its charter) Delaware -------- (State or other jurisdiction of incorporation) 333-53688-01 N/A ------------------------ --------------------------------- (Commission File Number) (IRS Employer Identification No.) c/o M&T Trust Company of Delaware 499 Mitchell Road, MC 101-591 Millsboro, Delaware 19966 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (410) 244-4626 N/A (Former name or former address, if changed since last report.) Item 2. Acquisition or Disposition of Assets. On September 25, 2003, NCT Funding Company, L.L.C. (the "Company") sold $275,000,000 aggregate principal amount of Class A-1 1.13875% Receivable-Backed Notes, $157,000,000 aggregate principal amount of Class A-2 1.49000% Receivable-Backed Notes, $287,253,376 aggregate principal amount of Class A-3 Floating Rate Receivable-Backed Notes, $21,750,000 aggregate principal amount of Class B 2.29000% Receivable-Backed Notes, $23,710,929 aggregate principal amount of Class C 3.98000% Receivable-Backed Notes and $25,650,000 aggregate principal amount of Class D 4.96000% Receivable-Backed Notes (the "Notes"). The Notes have the benefit of certain funds deposited in a reserve account established pursuant to a Pooling and Servicing Agreement annexed hereto as Exhibit 4.3 (the "Pooling and Servicing Agreement"). The Class A-1, A-2, A-3, B and C Notes were offered for sale to the public pursuant to a prospectus supplement dated September 17, 2003 to the prospectus dated June 4, 2003 (the "Prospectus"). The Notes represent obligations of CIT Equipment Collateral 2003-EF1 (the "Trust"). The Trust was created pursuant to a Trust Agreement annexed hereto as Exhibit 4.2 (the "Trust Agreement"). The Notes were issued pursuant to an Indenture (the "Indenture") annexed hereto as Exhibit 4.1. The property of the Trust primarily consists of a pool of commercial equipment lease contracts, loan and security agreements and financing arrangements consisting of true leases and finance leases for the lease/purchase of construction equipment, transportation equipment, manufacturing equipment and printing equipment and various other equipment (the "Contracts") and certain other property described in the Prospectus, including, without limitation, $23,710,929 which was deposited in the reserve collateral account (retained from the proceeds of the sale of the Notes pursuant to the Indenture). Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Pooling and Servicing Agreement. Item 7. Financial Statements and Exhibits. (c) Exhibits. The following are filed herewith. The exhibit numbers correspond with Item 601(b) of Regulation S-K.

4.3 Pooling and Servicing Agreement among CIT Equipment Collateral 2003-EF1 as Issuer, NCT Funding Company, L.L.C. as Depositor, CIT Financial USA, Inc. in its individual capacity, and The CIT Group/Equipment Financing, Inc. as Servicer, dated as of August 1, 2003. 10.1 Administration Agreement among CIT Equipment Collateral 2003-EF1 as Issuer, The CIT Group/Equipment Financing, Inc. as Administrator, NCT Funding Company, L.L.C. as Trust Depositor, and The Bank of New York as Indenture Trustee, dated as of August 1, 2003. 10.2 ISDA Master Agreement and Schedule between Wachovia Bank, National Association as Swap Counterparty and CIT Equipment Collateral 2003-EF1 as the Trust, dated September 17, 2003. 10.3 Confirmation for Class A-3 Swap Transaction between Wachovia Bank, National Association as Swap Counterparty and CIT Equipment Collateral 2003-EF1 as the Trust, dated September 17, 2003.

SIGNATURE 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 hereunto duly authorized. CIT EQUIPMENT COLLATERAL 2003-EF1 By: THE CIT GROUP/EQUIPMENT FINANCING, INC. as Servicer By: /s/ Barbara Callahan -------------------------- Name: Barbara Callahan Title: Vice President Dated: October 3, 2003 STATEMENT OF DIFFERENCES ------------------------ The section symbol shall be expressed as................................ 'SS' The copyright symbol shall be expressed as.............................. 'c' The registered trademark shall be expressed as...........................'r'

CIT EQUIPMENT COLLATERAL 2003-EF1 8-K