ITEM 2. PROPERTIES
CIT Equipment Collateral 2003-VT1 (the "Trust") owns certain equipment loan and lease receivables acquired from NCT Funding Company, LLC pursuant to a Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") dated as of May 1, 2003.
ITEM 3.
ITEM 3. LEGAL PROCEEDINGS
The registrant knows of no material pending proceedings with respect to the Trust.
ITEM 4.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No matter has been submitted to a vote of the holders of the Trust's Receivable-Backed Notes or Equity Certificates through the solicitation of proxies or otherwise.
PART II
ITEM 5.
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
There is no established public trading market for the Receivable-Backed Notes or the Equity Certificates of the Trust. As of December 31, 2003, the approximate number of holders of record was 32.
ITEM 9.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.
None.
PART III
ITEM 12.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.
Not Applicable.
ITEM 13.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.
None.
PART IV
ITEM 14.
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.
a) Documents filed as a part of the report:
Exhibits:
99.1 Report of Independent Accountants
99.2 Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards, to the extent the procedures in such are applicable to the servicing obligations set forth in the Servicing Agreement
99.3 Schedule of Year-to-Date Distributions of Principal and Interest to Certificate Holders and Pool Balance and Delinquencies as of December 31, 2003.
99.4 Annual Officer's Certificate
99.5 Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
b) Current Reports on Form 8-K:
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
CIT Equipment Collateral 2003-VT1
By: CIT Financial USA, Inc., as Servicer
By: /s/ Frank Garcia --------------------------------- Name: Frank Garcia Title: Senior Vice President
Dated: March 30, 2004
EXHIBIT INDEX