8-K 1 a32146.txt CIT EQUIPMENT COLLATERAL 2001-1 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: 15-Feb-02 CIT Equipment Collateral 2001-1 A New York Commission File I.R.S. Employer Corporation No. 0001136811 No. 51-0407692 c/o Capita Corporation 650 CIT Drive, Livingston, N.J. 07039 Telephone Number (973) 740-5000 Page 1 of 8 Item 5. Other CIT Equipment Collateral 2001-1 Monthly Servicing Report Determination Date: 02/15/02 Collection Period: 01/31/02 Payment Date: 02/20/02 I. AVAILABLE FUNDS A. Available Pledged Revenues a. Scheduled Payments Received $ 26,500,142.78 b. Liquidation Proceeds Allocated to Owner Trust 2,815,432.65 c. Required Payoff Amounts of Prepaid Contracts 3,053,363.70 d. Required Payoff Amounts of Purchased Contracts 0.00 e. Proceeds of Clean-up Call 0.00 f. Investment Earnings on Collection Account and Note Distribution Account 0.00 --------------- Total Available Pledged Revenues = $ 32,368,939.13 B. Determination of Available Funds a. Total Available Pledged Revenues $ 32,368,939.13 b. Receipt from Class A-4 Swap Counterparty 0.00 c. Servicer Advances 3,185,249.46 d. Recoveries of prior Servicer Advances (4,118,453.81) e. Withdrawal from Cash Collateral Account 1,191,329.81 --------------- Total Available Funds = $ 32,627,064.59

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Page 3 of 8 III. INFORMATION REGARDING DISTRIBUTIONS ON THE SECURITIES

IV. Information Regarding the Securities A Summary of Balance Information

Page 4 of 8 B Other Information

V. PRINCIPAL A. MONTHLY PRINCIPAL AMOUNT 1. Principal Balance of Notes and Equity Certificates 542,749,263.06 (End of Prior Collection Period) 2. Contract Pool Principal Balance (End of Collection Period) 512,835,152.57 -------------- Total monthly principal amount 29,914,110.50

VI. CONTRACT POOL DATA A. CONTRACT POOL CHARACTERISTICS

Page 5 of 8 B. DELINQUENCY INFORMATION

Page 6 of 8 B. CASH COLLATERAL ACCOUNT LOANS 1. Available Funds a. Excess Spread from Collection Account 0.00 b. Investment Earnings 64,993.74 Total Available Funds 64,993.74 2. Distribution of Available Funds a. Senior Loan Interest 64,993.74 b. Senior Loan Principal 0.00 c. Holdback Amount Interest 0.00 d. Holdback Amount Principal 0.00 e. Remainder to the Depositor 0.00 3. Distribution of CCA Surplus: a. Senior Loan Principal 507,201.38 b. Holdback Amount Principal 0.00 Total Distribution of Surplus 507,201.38 4. Summary of Balance and Rate Information Applicable Rates for the Interest Period: a. Libor Rate for the Interest Period 1.7388% b. Senior Loan Interest Rate 5.2388% c. Holdback Amount Interest Rate 6.9888%

Page 7 of 8 NCT Funding Company LLC, Chase Manhattan 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 02/20/02 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 Page 8 of 8

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