8-K 1 a36351.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: 16-Oct-03 CIT Equipment Collateral 2003-VT1 A Delaware Commission File I.R.S. Employer Corporation No. 0001240986 No. 75-6688971 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

Page 3 of 8 II. DISTRIBUTION AMOUNTS A. COLLECTION ACCOUNT DISTRIBUTIONS 1. Servicing Fee 478,675.01 2. Class A-1 Note Interest Distribution 138,652.91 Class A-1 Note Principal Distribution 26,542,445.35 Aggregate Class A-1 distribution 26,681,098.26 3. Class A-2 Note Interest Distribution 169,333.33 Class A-2 Note Principal Distribution 0.00 Aggregate Class A-2 distribution 169,333.33 4. Class A-3a Note Interest Distribution 211,944.44 Class A-3a Note Principal Distribution 0.00 Class A-3b Note Interest Distribution 154,850.00 Class A-3b Note Principal Distribution 0.00 Aggregate Class A-3 distribution 366,794.44 5. Class A-4 Note Interest Distribution 117,325.25 Class A-4 Note Principal Distribution 0.00 Aggregate Class A-4 distribution 117,325.25 6. Class B Note Interest Distribution 37,033.49 Class B Note Principal Distribution 791,238.20 Aggregate Class B distribution 828,271.69 7. Class C Note Interest Distribution 25,465.51 Class C Note Principal Distribution 431,584.48 Aggregate Class C distribution 457,049.99 8. Class D Note Interest Distribution 71,482.13 Class D Note Principal Distribution 1,007,030.45 Aggregate Class D distribution 1,078,512.58 9. Payment due to the Class A-3a Swap Counterparty 76,360.56 10. Deposit to the Cash Collateral Account 0.00 11. Amounts in accordance with the CCA Loan Agreement 0.00 12. Remainder to the holder of the equity certificate 0.00 ------------- Collection Account Distributions = 30,253,421.11 ============= B. CASH COLLATERAL ACCOUNT DISTRIBUTIONS 1. Payment due on the Senior Loan 2,005,105.52 2. Payment due on the Holdback 0.00 3. Payment to the Depositor 0.00 ------------- Cash Collateral Account Distributions = 2,005,105.52 ============= C. INCORRECT DEPOSITS TO BE RETURNED TO CIT Collection Account Distributions = 0.00 -------------

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 1. Principal Balance of Notes and Equity Certificates 765,880,008.88 (End of Prior Collection Period) 2. Contract Pool Principal Balance (End of Collection Period) 737,107,710.40 -------------- Total monthly principal amount 28,772,298.48

VI. CONTRACT POOL DATA A. CONTRACT POOL CHARACTERISTICS

B. DELINQUENCY INFORMATION

C. DEFAULTED CONTRACT INFORMATION 1. Required Payoff Amount on Defaulted Contracts 1,926,814.53 2. Liquidation Proceeds received 1,380,658.86 ------------- 3. Current Liquidation Loss Amount 546,155.67 4. Cumulative Liquidation Losses to date 992,197.97 % of Initial Contracts 0.681% % of Initial Contract Pool Balance 0.114%

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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 10/20/03 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

CIT EQUIPMENT COLLATERAL 2003-VT1 8-K