|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: CHRIROPRACTIC 21 INTERNATIONAL INC, 10QSB, EX-27, 2000-11-22 |
Next: CARMINA TECHNOLOGIES INC, 10QSB, 2000-11-22 |
<PAGE>
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-Nov-00
CIT Equipment Collateral 2000-1
<TABLE>
<S> <C> <C>
A New York Commission File I.R.S. Employer
Corporation No. 0001114967 No. 22-6846998
</TABLE>
c/o AT&T Capital Corporation
650 CIT Drive, Livingston, N.J. 07039
Telephone Number (973) 740-5000
Page 1 of 9
<PAGE>
ITEM 5. OTHER
CIT EQUIPMENT COLLATERAL 2000-1
MONTHLY SERVICING REPORT
<TABLE>
<CAPTION>
DETERMINATION DATE: 11/16/00
COLLECTION PERIOD: 10/31/00
PAYMENT DATE: NOVEMBER 20, 2000
<S> <C>
I. AVAILABLE FUNDS
A. AVAILABLE PLEDGED REVENUES
a. Scheduled Payments Received 27,196,422.14
b. Liquidation Proceeds Allocated to Owner Trust 1,339,062.74
c. Required Payoff Amounts of Prepaid Contracts 2,597,234.82
d. Required Payoff Amounts of Purchased Contracts 44,613.08
e. Proceeds of Clean-up Call 0.00
f. Investment Earnings on Collection Account and Note Distribution Account 0.00
---------------
g. Investment Earnings on Class A-2a Funding Account 0.00
Total Available Pledged Revenues = 31,177,332.78
B. DETERMINATION OF AVAILABLE FUNDS
a. Total Available Pledged Revenues 31,177,332.78
b. Receipt from Class A-2 Swap Counterparty 0.00
c. Receipt from Class A-3 Swap Counterparty 0.00
d. Servicer Advances 3,483,023.40
e. Recoveries of prior Servicer Advances (4,381,843.06)
f. Withdrawls from the Class A Principal Account, including Investment Earnings 0.00
------------------
g. Withdrawal from Cash Collateral Account 1,102,980.18
Total Available Funds = 31,381,493.30
</TABLE>
Page 2 of 9
<PAGE>
II. DISTRIBUTION AMOUNTS
A. COLLECTION ACCOUNT DISTRIBUTIONS
<TABLE>
<S> <C> <C>
1. Servicing Fee 362,100.94
2. Class A-1 Note Interest Distribution 690,768.40
Class A-1 Note Principal Distribution 25,823,957.85
Aggregate Class A-1 distribution 26,514,726.25
3. Class A-2a Note Interest Distribution 821,300.91
Class A-2a Note Principal Distribution 0.00
Aggregate Class A-2a distribution 821,300.91
4. Class A-2b Note Interest Distribution 0.00
Class A-2b Note Principal Distribution 0.00
Aggregate Class A-2b distribution 0.00
5. Class A-3 Note Interest Distribution 1,092,512.01
Class A-3 Note Principal Distribution 0.00
Aggregate Class A-3 distribution 1,092,512.01
6. Class A-4 Note Interest Distribution 587,641.01
Class A-4 Note Principal Distribution 0.00
Aggregate Class A-4 distribution 587,641.01
7. Deposit to the Class A Principal Account 0.00
8. Class B Note Interest Distribution 54,604.82
Class B Note Principal Distribution 412,084.43
Aggregate Class B distribution 466,689.25
9. Class C Note Interest Distribution 73,675.47
Class C Note Principal Distribution 549,445.91
Aggregate Class C distribution 623,121.38
10. Class D Note Interest Distribution 97,646.55
Class D Note Principal Distribution 686,807.39
Aggregate Class D distribution 784,453.94
11. Payment due to the Class A-2 Swap Counterparty 50,161.44
12. Payment due to the Class A-3 Swap Counterparty 78,786.17
13. Deposit to the Cash Collateral Account 0.00
14. Amounts in accordance with the CCA Loan Agreement 0.00
15. To the holder of the equity certificate 0.00
==============
Collection Account Distributions = 31,381,493.30
</TABLE>
Page 3 of 9
<PAGE>
B. CASH COLLATERAL ACCOUNT DISTRIBUTIONS
<TABLE>
<S> <C> <C>
1. Payment due on the Senior Loan 78,637.98
2. Payment due on the Holdback 136,898.33
----------------
3. Payment to the Depositor 0.00
================
Cash Collateral Account Distributions = 215,536.31
</TABLE>
III. INFORMATION REGARDING DISTRIBUTIONS ON THE SECURITIES
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------
DISTRIBUTION CLASS A-1 CLASS A-2a CLASS A-3 CLASS A-4
AMOUNTS NOTES NOTES NOTES NOTES
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. Interest Due 690,768.40 821,300.91 1,092,512.01 587,641.01
2 Interest Paid 690,768.40 821,300.91 1,092,512.01 587,641.01
3 Interest Shortfall 0.00 0.00 0.00 0.00
((1) minus (2))
4 Principal Paid 25,823,957.85 0.00 0.00 0.00
5 Total Distribution Amount 26514726.25 821,300.91 1,092,512.01 587,641.01
((2) plus (4))
<CAPTION>
-------------------------------------------------------------------------------------------------------------
DISTRIBUTION CLASS B CLASS C CLASS D TOTAL OFFERED CLASS A-2b
AMOUNTS NOTES NOTES NOTES NOTES NOTES
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1. Interest Due 54,604.82 73,675.47 97,646.55 3,418,149.17 0.00
2 Interest Paid 54,604.82 73,675.47 97,646.55 3,418,149.17 0.00
3 Interest Shortfall 0.00 0.00 0.00 0.00 0.00
((1) minus (2))
4 Principal Paid 412,084.43 549,445.91 686,807.39 27472295.58 0
5 Total Distribution Amount 466,689.25 623,121.38 784,453.94 30,890,444.75 0.00
((2) plus (4))
</TABLE>
Page 4 of 9
<PAGE>
IV. Information Regarding the Securities
A. Summary of Balance Information
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------
APPLICABLE PRINCIPAL BALANCE CLASS FACTOR PRINCIPAL BALANCE CLASS FACTOR
CLASS COUPON NOVEMBER-00 NOVEMBER-00 OCTOBER-00 OCTOBER-00
RATE PAYMENT DATE PAYMENT DATE PAYMENT DATE PAYMENT DATE
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
a. Class A-1 Notes 6.7230% 93,494,767.73 0.32398 119,318,725.57 0.41346
b. Class A-2a Notes 6.6100% 144,291,800.00 1.00000 144,291,800.00 1.00000
c. Class A-3 Notes 6.7500% 187,959,055.00 1.00000 187,959,055.00 1.00000
d. Class A-4 Notes 7.5800% 93,030,239.00 1.00000 93,030,239.00 1.00000
e. Class B Notes 7.5400% 8,278,338.22 0.72671 8,690,422.65 0.76289
f. Class C Notes 7.6300% 11,037,784.29 0.72671 11,587,230.20 0.76289
g. Class D Notes 0.08 13,797,230.37 0.726714596 14,484,037.75 0.76
h. Total Offered Notes 551,889,214.60 579361510.2
i. Class A-2b Notes 144,291,800.00
j. One - Month Libor Rate 6.62%
</TABLE>
B. Other Information
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------
SCHEDULED SCHEDULED
PRINCIPAL BALANCE PRINCIPAL BALANCE
CLASS NOVEMBER-00 OCTOBER-00
PAYMENT DATE PAYMENT DATE
----------------------------------------------------------------------------------------
<S> <C> <C>
Class A-1 Notes 107,632,754.00 131,613,858.00
----------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------
TARGET CLASS TARGET CLASS
CLASS PRINCIPAL AMOUNT FLOOR PRINCIPAL AMOUNT FLOOR
CLASS PERCENTAGE NOVEMBER-00 NOVEMBER-00 OCTOBER-00 OCTOBER-00
Payment Date Payment Date Payment Date Payment Date
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Class A 94.00% 518,775,861.73 544,599,819.57
Class B 1.50% 8,278,338.22 0.00 8,690,422.65 0.00
Class C 2.00% 11,037,784.29 0.00 11,587,230.20 0.00
CLASS D 0.03 13,797,230.37 0 14484037.75 0.00
</TABLE>
Page 5 of 9
<PAGE>
V. PRINCIPAL
A. MONTHLY PRINCIPAL AMOUNT
<TABLE>
<S> <C>
1. Principal Balance of Notes and Equity Certificates 579,361,510.18
(End of Prior Collection Period)
------------------
2. Contract Pool Principal Balance (End of Collection Period) 551,889,214.60
Total monthly principal amount 27,472,295.58
</TABLE>
VI. CONTRACT POOL DATA
A. CONTRACT POOL CHARACTERISTICS
<TABLE>
<CAPTION>
----------------------------------------------------------------------
ORIGINAL 36850 36819
POOL Payment Date PAYMENT DATE
----------------------------------------------------------------------
<S> <C> <C> <C>
1. a. Contract Pool Balance 759,430,525 551,889,215 579,361,510
b. No of Contracts 79033 65886 67788
2. Weighted Average Remaining Term 39.7 37.65 37.99
3. Weighted Average Original Term 53.3
</TABLE>
B. DELINQUENCY INFORMATION
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% OF % OF AGGREGATE
REQUIRED PAYOFF NO. OF AGGREGATE REQUIRED
CONTRACTS AMOUNT ACCOUNTS PAYOFF AMOUNTS
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. Current 91.71% 91.67% 60,421 515,198,607.22
31-60 days 4.43% 4.06% 2,919 22,805,265.15
61-90 days 1.75% 1.88% 1,150 10,574,374.39
91-120 days 0.96% 1.13% 630 6,329,570.64
120+ days 0.011626142 0.012680598 766 7,126,936.80
Total Delinquency 1 1 65,886 562,034,754.2
2. Delinquent Scheduled Payments:
Beginning of Collection Period 11,044,359.26
--------------
End of Collection Period 10145539.6
Change in Delinquent Scheduled Payments -898819.66
</TABLE>
C. DEFAULTED CONTRACT INFORMATION
<TABLE>
<S> <C>
1. Required Payoff Amount on Defaulted Contracts 2,708,888.22
-----------------
2. Liquidation Proceeds received 1,339,062.74
3. Current Liquidation Loss Amount 1369825.48
4. Cumulative Liquidation Losses to date 5359816.21
% of Initial Contracts 1.501%
% of Initial Contract Pool Balance 0.007057678
</TABLE>
Page 6 of 9
<PAGE>
VII. INFORMATION REGARDING THE CASH COLLATERAL ACCOUNT
<TABLE>
A. CASH COLLATERAL ACCOUNT
<S> <C>
1. Opening Cash Collateral Account 39031808.74
2. Deposit from the Collection Account 0
3. Withdrawls from the Cash Collateral Account -1102980.18
4. Available amount 37928828.56
5. Required Cash Collateral Account Amount 41768678.88
6. Cash Collateral Account Surplus/ (Shortfall) -3839850.3
7 Release of Cash Collateral Surplus 0
8 Ending Cash Collateral Account 37,928,828.56
B. CASH COLLATERAL ACCOUNT LOANS
1. Available Funds
a. Excess Spread from Collection Account 0.00
b. Investment Earnings 215536.31
Total Available Funds 215536.31
2. Distribution of Available Funds
a. Senior Loan Interest 78,637.98
b. Senior Loan Principal 0.00
c. Holdback Amount Interest 136,898.33
d. Holdback Amount Principal 0.00
e. Remainder to the Depositor 0
3. Distribution of CCA Surplus:
a. Senior Loan Principal 0.00
b. Holdback Amount Principal 0.00
Total Distribution of Surplus 0
4. Summary of Balance and Rate Information
Applicable Rates for the Interest Period:
a. Libor Rate for the Interest Period 6.6200%
b. Senior Loan Interest Rate 9.6200%
c. Holdback Amount Interest Rate 0.1187
</TABLE>
Page 7 of 9
<PAGE>
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
Oct-00 Sep-00
----------------------------------------------------------------------------------------------
Item Payment Date PAYMENT DATE
<S> <C> <C>
a. Senior Loan 9,492,881.56 9,492,881.56
b. Holdback Amount 32275797.31 32275797.31
</TABLE>
VIII. MISCELLANEOUS INFORMATION
<TABLE>
<S> <C>
A. SERVICER ADVANCE BALANCE
1. Opening Servicer Advance Balance 11,044,359.26
2. Current Period Servicer Advance 3,483,023.40
--------------------------
3. Recoveries of prior Servicer Advances -4,381,843.06
4. Ending Servicer Advance Balance 10145539.6
B. CLASS A-2a FUNDING ACCOUNT
1. Opening Class A-2a Funding Account 144,291,800.00
2. Monthly Accrued Interest 0
2. Investment Earnings 0.00
3. Withdrawal to the Collection Account 0.00
---------------------------
4. Distribution to Class A-2a on Stated Maturity Date 0
5. Ending Class A-2a Funding Account 144291800
C. CLASS A PRINCIPAL ACCOUNT
1. Opening Class A Principal Account 0.00
2. Investment Earnings 0.00
3. Withdrawls to the Collection Account 0.00
--------------------------
4. Deposits 0
5. Ending Class A Principal Account 0
D. OTHER RELATED INFORMATION
1. Discount Rate 0.08154
2. Life to Date Prepayment (CPR) 0.077499706
3. Life to Date Substitutions:
a. Prepayments -
b. Defaults 0
a. Prepayments 0.00
b. Defaults 0.00
</TABLE>
Page 8 of 9
<PAGE>
Servicer's Certificate
The undersigned, on behalf of AT&T Capital Corporation, in its capacity as
servicer (The "Servicer") under the Pooling and Servicing Agreement, dated as of
April 1, 2000 (the "Pooling and Servicing Agreement"), among CIT Equipment
Collateral 2000-1, NTC Funding Company LLC, The Chase Manhattan Bank, as trustee
under the Indenture, and AT&T Capital 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
10/20/00
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.
AT&T CAPITAL CORPORATION
Glenn Votek
-------------
Glenn Votek
Executive Vice President, and Treasurer
Page 9 of 9
|
|