Document:

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                                                                    Exhibit 10.3

                                    AMENDMENT

         AMENDMENT, dated as of March 27, 2001 (the "AMENDMENT"), to the 364-DAY
CREDIT AGREEMENT, dated as of March 28, 2000 (the "CREDIT AGREEMENT"; unless
otherwise defined herein, capitalized terms which are defined in the Credit
Agreement are used herein as defined therein) among THE CIT GROUP, INC., a
Delaware corporation (the "BORROWER"), the several banks and other financial
institutions from time to time parties to the Credit Agreement (the "LENDERS"),
JPMorgan, a division of CHASE SECURITIES INC., as lead arranger and bookrunner
(in such capacity, the "ARRANGER"), BARCLAYS BANK PLC, BANK OF AMERICA, N.A.,
CITIBANK, N.A. and THE DAI-ICHI KANGYO BANK, LIMITED, as syndication agents (in
such capacity, the "SYNDICATION AGENTS") and THE CHASE MANHATTAN BANK ("CHASE")
(in such capacity, the "ADMINISTRATIVE AGENT").

                              W I T N E S S E T H :
                              - - - - - - - - - -

         WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to
make, and have made, certain loans and other extensions of credit to the
Borrower; and

         WHEREAS, the Borrower has requested, and, upon this Amendment becoming
effective, the Lenders have agreed, that certain provisions of the Credit
Agreement be amended in the manner provided for in this Amendment;

         NOW, THEREFORE, for valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, and in consideration of the premises, the
parties hereto hereby agree as follows:

                              SECTION I. AMENDMENTS

         1.1. AMENDMENT TO SUBSECTION 1.1. Subsection 1.1 of the Credit
Agreement is hereby amended by deleting therefrom the definition of the
following defined term in its entirety and inserting in lieu thereof the
following new definition in proper alphabetical order:

         "TERMINATION DATE": March 26, 2002, as such date may be extended from
    time to time in accordance with subsection 2.7.

         1.2. AMENDMENT TO SUBSECTION 2.4(A). The first sentence of subsection
2.4(a) of the Credit Agreement is hereby amended by adding the following proviso
at the end of such sentence:

              "; PROVIDED, that if the Termination Date is extended pursuant
              to Section 2.7(a) and there are any Non-Extending Banks, any
              Loans owing to such Non-Extending Banks on the Termination
              Date applicable to such Non-Extending Bank shall be repaid on
              such Termination Date."

         1.3. AMENDMENT TO SUBSECTION 3.1. Subsection 3.1 of the Credit
Agreement is hereby amended by substituting "December 31, 1999" for
"December 31, 1998".

                                       13
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         1.4. AMENDMENT TO SUBSECTION 3.2. Subsection 3.2 of the Credit
Agreement is hereby amended by substituting "December 31, 1999" for "December
31, 1998".

         1.5. AMENDMENT TO SUBSECTION 3.3. Subsection 3.3 of the Credit
Agreement is hereby amended by substituting "December 31, 1999" for "December
31, 1998" and "1999" for "1998".

         1.6. AMENDMENT TO SCHEDULE I. Schedule I of the Credit Agreement is
hereby amended by deleting the existing Schedule I in its entirety and
substituting in lieu thereof a new Schedule I, which is attached hereto.

                            SECTION II. MISCELLANEOUS

         2.1. CONDITIONS TO EFFECTIVENESS OF AMENDMENT. This Amendment shall
become effective as of the date first set forth above (the "AMENDMENT EFFECTIVE
DATE") upon satisfaction of the following conditions:

         (a) CORPORATE PROCEEDINGS OF THE COMPANY. The Administrative Agent
    shall have received, with a counterpart for each Bank, a copy of the
    resolutions, in form and substance satisfactory to the Administrative Agent,
    of the Board of Directors of the Company authorizing (i) the execution,
    delivery and performance of this Agreement, and (ii) the borrowings
    contemplated hereunder, certified by the Secretary or an Assistant Secretary
    of the Company as of the Closing Date pursuant to a certificate
    substantially in the form of Exhibit A, which certificate shall state that
    the resolutions thereby certified have not been amended, modified, revoked
    or rescinded.

         (b) CORPORATE DOCUMENTS. The Administrative Agent shall have received,
    with a counterpart for each Bank, true and complete copies of the
    certificate of incorporation and by-laws of the Company, certified as of the
    Closing Date as complete and correct copies thereof by the Secretary or an
    Assistant Secretary of the Company.

         (c) LEGAL OPINIONS. The Administrative Agent shall have received, with
    a counterpart for each Bank, (i) the executed legal opinion of the general
    counsel of the Company, substantially in the form of Exhibit B-1 and (ii)
    the executed legal opinion of Simpson Thacher & Bartlett, counsel to the
    Administrative Agent, substantially in the form of Exhibit B-2.

         (d) EXECUTED COPIES. The Administrative Agent shall have received
    counterparts of this Amendment duly executed and delivered by the Borrower,
    the Administrative Agent, the Lenders constituting the Required Lenders
    under the Credit Agreement and all Lenders having Commitments listed in
    Schedule I.

         2.2. REPRESENTATIONS AND WARRANTIES. The Borrower represents and
warrants to each Lender that as of the effective date of this Amendment: (a)
this Amendment constitutes the legal, valid and binding obligation of the
Borrower, enforceable against it in accordance with its terms, except as such
enforcement may be limited by bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium or similar laws affecting creditors' rights
generally, by general equitable principles (whether enforcement is sought by
proceedings in equity or at law)

                                       14
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and an implied covenant of good faith and fair dealing; (b) the representations
and warranties made by the Loan Parties in the Loan Documents are true and
correct in all material respects on and as of the date hereof (except to the
extent that such representations and warranties are expressly stated to relate
to an earlier date, in which case such representations and warranties shall have
been true and correct in all material respects on and as of such earlier date)
and (c) no Default or Event of Default shall have occurred and be continuing as
of the date hereof.

         2.3. COUNTERPARTS. This Amendment may be executed by one or more of the
parties to this Amendment on any number of separate counterparts (including by
facsimile transmission), and all of said counterparts taken together shall be
deemed to constitute one and the same instrument. A set of the copies of this
Amendment signed by all the parties shall be lodged with the Borrower and the
Administrative Agent. The execution and delivery of the Amendment by any Lender
shall be binding upon each of its successors and assigns (including Transferees
of its commitments and Loans in whole or in part prior to effectiveness hereof)
and binding in respect of all of its commitments and Loans, including any
acquired subsequent to its execution and delivery hereof and prior to the
effectiveness hereof.

         2.4. CONTINUING EFFECT; NO OTHER AMENDMENTS. Except to the extent the
Credit Agreement is expressly amended hereby, all of the terms and provisions of
the Credit Agreement and the other Loan Documents are and shall remain in full
force and effect. This Amendment shall constitute a Loan Document.

         2.5. PAYMENT OF EXPENSES. The Borrower agrees to pay and reimburse the
Administrative Agent for all of its out-of-pocket costs and reasonable expenses
incurred to date in connection with this Amendment and the other Loan Documents,
including, without limitation, the reasonable fees and disbursements of legal
counsel to the Administrative Agent.

         2.6. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

                     [Rest of page left intentionally blank]

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         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered by their proper and duly authorized officers as of
the day and year first above written.

                                     THE CIT GROUP, INC.

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     THE CHASE MANHATTAN BANK, as
                                     Administrative Agent and as a Bank

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     JPMORGAN, a division of CHASE
                                     SECURITIES INC., as Lead Arranger and
                                     Bookrunner

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     BARCLAYS BANK PLC, as Syndication
                                     Agent and as a Bank

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     BANK OF AMERICA, NA, as Syndication
                                     Agent and as a Bank

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     CITIBANK, N.A., as Syndication Agent and
                                     as a Bank

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     THE DAI-ICHI KANGYO BANK,
                                     LIMITED., as Syndication Agent and as
                                     a Bank

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     ABN AMRO BANK N.V.

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     DRESDNER BANK AG, NEW YORK
                                     BRANCH AND/OR CAYMAN ISLANDS
                                     BRANCHES

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     FIRST UNION NATIONAL BANK

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     LEHMAN COMMERCIAL PAPER INC.

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     NATIONAL AUSTRALIA BANK
                                     LIMITED, A.C.N. 004044937

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     SOCIETE GENERALE, NEW YORK
                                     BRANCH

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     UBS AG, STAMFORD BRANCH

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     WESTDEUTSCHE LANDESBANK
                                     GIROZENTRALE

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     BANK ONE, NA

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     BNP PARIBAS

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     CREDIT SUISSE FIRST BOSTON

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     DEUTSCHE BANK AG, NEW YORK
                                     AND/OR CAYMAN ISLANDS
                                     BRANCHES

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     CANADIAN IMPERIAL BANK OF
                                     COMMERCE

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     ROYAL BANK OF CANADA

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     FLEET NATIONAL BANK

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     HSBC BANK USA

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     LLOYDS TSB BANK PLC

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     THE BANK OF NEW YORK

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     TORONTO-DOMINION (TEXAS), INC.

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     COMERICA BANK

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     NORDDEUTSCHE LANDESBANK
                                     GIROZENTRALE NEW YORK BRANCH
                                     AND/OR CAYMAN ISLANDS BRANCH

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     BANK OF MONTREAL

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     ALLFIRST BANK

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     FIRST HAWAIIAN BANK

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     WELLS FARGO BANK, N.A.

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     ARAB BANK PLC

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     BANCA DI ROMA

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:

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                                     THE BANK OF NOVA SCOTIA

                                     By:
                                         ----------------------------------
                                         Name:
                                         Title:<PAGE>

                                                                    EXHIBIT 10.4

                              ASSUMPTION AGREEMENT

                  ASSUMPTION AGREEMENT dated as of June 1, 2001, made by THE CIT
GROUP, INC. (formerly known as Tyco Acquisition Corp. XX (NV)), a Nevada
corporation, ("CIT") and CIT HOLDINGS (NV) INC. (formerly known as Tyco
Acquisition Corp. XIX (NV)), a Nevada corporation ("CIT HOLDINGS"), to the
364-DAY CREDIT AGREEMENT, dated as of March 28, 2000 (the "ORIGINAL CREDIT
AGREEMENT"), as amended by a certain Amendment dated as of March 27, 2001 (the
"AMENDMENT", collectively along with the Original Credit Agreement, the "CREDIT
AGREEMENT"; unless otherwise defined herein, capitalized terms which are defined
in the Credit Agreement are used herein as defined therein) among THE CIT GROUP,
INC., a Delaware corporation (the "CIT DELAWARE"), the several banks and other
financial institutions from time to time parties to the Credit Agreement (the
"LENDERS"), JPMorgan, a division of CHASE SECURITIES INC., as sole arranger and
bookrunner (in such capacity, the "ARRANGER"), BARCLAYS BANK PLC, BANK OF
AMERICA, N.A., CITIBANK, N.A. and THE DAI-ICHI KANGYO BANK, LIMITED, as
syndication agents (in such capacity, the "SYNDICATION AGENTS") and THE CHASE
MANHATTAN BANK ("CHASE") (in such capacity, the "ADMINISTRATIVE AGENT").

                               W I T N E S S E T H

                  WHEREAS, CIT Delaware, the Lenders, the Arranger, the
Syndication Agents and the Administrative Agent are parties to the Credit
Agreement pursuant to which Lenders have agreed to make certain loans and other
extensions of credit to CIT Delaware;

                  WHEREAS, effective as of the date hereof, CIT Delaware has
merged into CIT Holdings pursuant to a Certificate of Merger filed with the
Delaware Secretary of State on the date hereof and Articles of Merger filed with
the Nevada Secretary of State on the date hereof (the "MERGER");

                  WHEREAS, immediately following the Merger CIT Holdings will
transfer all of the assets owned by CIT Delaware immediately prior to the
Merger, whether tangible or intangible, including, without limitation, any and
all claims, judgments, contractual rights, causes of action and other rights,
whether legal or equitable (the "ASSETS"), to CIT, and CIT will accept the
contribution of the Assets and assume substantially all of the liabilities of
CIT Delaware, whether fixed or contingent, liquidated or unliquidated, matured
or unmatured, secured or unsecured (collectively, the "LIABILITIES"), in each
case as the same shall exist immediately following the Merger (such assignment
and assumption, the "TRANSFER"), pursuant to, and in accordance with, the terms
and conditions of the Contribution and Assumption Agreement (the "CONTRIBUTION
AND ASSUMPTION AGREEMENT");

                  WHEREAS, pursuant to the terms of the Merger and applicable
law, CIT Holdings succeeded to all of the rights and obligations of CIT
Delaware, and pursuant to the

<PAGE>

Contribution and Assumption Agreement, CIT Holdings has transferred to CIT all
such rights and CIT has assumed all such obligations;

                  WHEREAS, pursuant to Section 6.2 of the Credit Agreement if
CIT Delaware merges with or into another corporation or sells substantially all
of its assets or property to another corporation, the surviving corporation
and/or the purchaser of the property and assets shall expressly assume the
obligations of the Company under the Credit Agreement and expressly agree to be
bound by all other provisions applicable to the Company under the Credit
Agreement; and

                  WHEREAS, pursuant to this Assumption Agreement the parties
wish to provide that CIT Holdings shall become the "Company" under the Credit
Agreement by reason of the Merger and that, immediately thereafter, CIT shall
become the "Company" by reason of the Transfer.

                  NOW, THEREFORE, in consideration of the premises and the
agreements herein, CIT LLC hereby agrees as follows:

                                   ARTICLE I
                             ASSUMPTION AND RELEASE

                  Section 1.1. ASSUMPTION AND SUBSTITUTION.

                  (a) Pursuant to the Merger and this Assumption Agreement, CIT
Holdings has expressly assumed, as its direct and primary obligation, the due
and punctual performance and observance of all of the covenants and conditions
to be performed or observed by CIT Delaware under the Credit Agreement, and has
succeeded to, and has been substituted for, CIT Delaware, with the same effect
as if CIT Holdings had been named in the Credit Agreement.

                  (b) Pursuant to the Transfer and this Assumption Agreement,
CIT has expressly assumed the due and punctual performance and observance of all
the covenants and conditions to be performed or observed by CIT Holdings, as
successor of CIT Delaware, under the Credit Agreement, and has succeeded to, and
is substituted for, CIT Delaware and CIT Holdings, with the same effect as if
CIT had been named in the Credit Agreement.

                                   ARTICLE II
                         REPRESENTATIONS AND WARRANTIES

                  Section 2.1. REPRESENTATIONS AND WARRANTIES OF CIT HOLDINGS.
CIT Holdings hereby represents and warrants as follows:

                  (a) CIT Holdings (i) is a corporation duly organized, validly
existing and in good standing under the laws of the State of Nevada and (ii) has
the power and authority to execute, deliver and perform this Assumption
Agreement.

                  (b) The execution, delivery and performance by CIT Holdings of
this Assumption Agreement (i) have been duly authorized by all necessary company
action, (ii) do not and will not contravene its articles of incorporation or
bylaws, any material law or any material contractual restriction binding on or
affecting CIT Holdings or any of

                                      -2-
<PAGE>

its material properties and (iii) do not and will not result in or require the
creation of any lien, security interest or other charge or encumbrance upon or
with respect to any of its material properties.

                  (c) No authorization or approval or other action by, and no
notice to or filing with, any governmental authority or other regulatory body is
required for the due execution, delivery and performance by CIT Holdings of this
Assumption Agreement or for its assumption of the obligations of CIT Delaware
under the Credit Agreement.

                  (d) This Assumption Agreement is, the legal, valid and binding
obligation of CIT Holdings, enforceable against CIT Holdings in accordance with
its terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting the
enforcement of creditors' rights generally and by general equitable principles
(whether enforcement is sought by proceedings in equity or at law).

                  (e) No litigation, investigation or proceeding of or before
any arbitrator or governmental authority or other regulatory body is pending or,
to the knowledge of CIT Holdings, threatened by or against CIT Holdings with
respect to this Assumption Agreement or any of the transactions contemplated
hereby.

                  (f) CIT Holdings was not, effective immediately following the
Merger, in default in the performance of any covenant or condition in the Credit
Agreement.

                  Section 2.2. REPRESENTATIONS AND WARRANTIES OF CIT. CIT hereby
represents and warrants as follows:

                  (a) CIT (i) is a corporation duly organized, validly existing
and in good standing under the laws of the State of Nevada and (ii) has the
power and authority to assume the obligations of Corporation under the Credit
Agreement and to execute, deliver and perform this Assumption Agreement.

                  (b) The execution, delivery and performance by CIT of this
Assumption Agreement and the assumption of the obligations of CIT Holdings under
the Credit Agreement (i) have been duly authorized by all necessary company
action, (ii) do not and will not contravene its articles of incorporation or
bylaws, any material law or any material contractual restriction binding on or
affecting CIT or any of its material properties and (iii) do not and will not
result in or require the creation of any lien, security interest or other charge
or encumbrance upon or with respect to any of its material properties.

                  (c) No authorization or approval or other action by, and no
notice to or filing with, any governmental authority or other regulatory body is
required for the due execution, delivery and performance by CIT of this
Assumption Agreement or for its assumption of the obligations of CIT Holdings
under the Credit Agreement.

                  (d) This Assumption Agreement is the legal, valid and binding
obligation of CIT, enforceable against CIT in accordance with its terms, except
as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws

                                      -3-
<PAGE>

affecting the enforcement of creditors' rights generally and by general
equitable principles (whether enforcement is sought by proceedings in equity
or at law).

                  (e) No litigation, investigation or proceeding of or before
any arbitrator or governmental authority or other regulatory body is pending or,
to the knowledge of CIT, threatened by or against CIT with respect to this
Assumption Agreement or any of the transactions contemplated hereby.

                  (f) CIT is not, effective immediately following the Transfer,
in default in the performance of any covenant or condition in the Credit
Agreement.

                                  ARTICLE III
                           FURTHER ASSURANCES REQUIRED

                  Section 3.1. DOCUMENTS. The Administrative Agent shall have
received from CIT (a) the executed legal opinion of Lionel Sawyer & Collins,
Nevada counsel to CIT, substantially in the form of Exhibit A-1 and (b) the
executed legal opinion of the general counsel of CIT, substantially in the form
of Exhibit A-2.

                  Section 3.2. FURTHER ASSURANCES REQUIRED. At any time and from
time to time, upon the Administrative Agent's request, CIT Holdings and CIT will
promptly execute and deliver such documents and instruments and take such
further actions as the Administrative Agent may reasonably request to effect the
purposes of this Assumption Agreement, at their respective cost and expense.

                                   ARTICLE IV
                                  MISCELLANEOUS

                  Section 4.1. MISCELLANEOUS(a) This Assumption Agreement may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which shall be deemed to be an original, but all
of which taken together shall constitute one and the same agreement.

                  (b) This Assumption Agreement is effective in respect of CIT
Holdings, as of the Merger and, in respect of CIT, as of the Transfer.

                     [Rest of page left intentionally blank]

                                      -4-
<PAGE>

                  IN WITNESS WHEREOF, CIT Holdings and CIT have caused this
Assumption Agreement to be executed by an officer thereunto duly authorized, as
of the date first above written.

                                   CIT HOLDINGS (NV) INC., a Nevada
                                   corporation

                                   By:
                                       ---------------------------------------
                                       Name:
                                       Title:

                                   THE CIT GROUP, INC., a Nevada corporation

                                   By:
                                       ----------------------------------------
                                       Name:  Glenn A. Votek
                                       Title: Executive Vice President
                                              and Treasurer

                                      -5-

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