Exhibit 10.1
Extension of Scheduled Expiry Date
          Reference is made to that certain Amended and Restated Series 2006-2
Indenture Supplement, dated as of December 1, 2006, as amended by the First
Amendment thereto, dated as of March 6, 2007, and the Second Amendment thereto,
dated as of November 30, 2007 (as further amended or supplemented, the
“Series 2006-2 Indenture Supplement”), among Chesapeake Funding LLC (the
“Issuer”), PHH Vehicle Management Services, LLC, as administrator, the several
commercial paper conduits listed on Schedule I thereto (the “CP Conduit
Purchasers”), the banks party thereto with respect to each CP Conduit Purchaser
(the “APA Banks”), the agent banks party thereto with respect to each CP Conduit
Purchaser (the “Funding Agents”), JPMorgan Chase Bank, N.A., in its capacity as
administrative agent for the CP Conduit Purchasers, the APA Banks and the
Funding Agents, and The Bank of New York Mellon (formerly known as The Bank of
New York), as Indenture Trustee (the “Indenture Trustee”), to the Base
Indenture, dated as of March 7, 2006 between the Issuer and the Indenture
Trustee. All capitalized terms defined in the Series 2006-2 Indenture Supplement
and used herein shall have the meanings given to them therein.
          The undersigned hereby agree to extend the Scheduled Expiry Date to
December 8, 2008.
Dated: November 25, 2008

            PARK AVENUE RECEIVABLES COMPANY, LLC,
     as a CP Conduit Purchaser
      By:   JPMorgan Chase Bank, N.A., its attorney-in-fact             By:  
/s/ Daniel J. Clarke, Jr.       Name:   Daniel J. Clarke, Jr.       Title:  
Managing Director       JPMORGAN CHASE BANK, N.A., as an APA Bank
      By:   /s/ Daniel J. Clarke, Jr.       Name:   Daniel J. Clarke, Jr.      
Title:   Managing Director  

 

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2

         

            VARIABLE FUNDING CAPITAL COMPANY
     LLC, as a CP Conduit Purchaser
      By:   WACHOVIA CAPITAL MARKETS, LLC,
As Attorney-in-Fact             By:   /s/ Haojin Wu       Name:   Haojin Wu    
  Title:   Vice President       WACHOVIA BANK, NATIONAL ASSOCIATION,
     as an APA Bank
      By:   /s/ Kevin McConnell       Name:   Kevin McConnell       Title:  
Managing Director  

Signature Page to Series 2006-2 Consent

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3

            YC SUSI TRUST, as a CP Conduit Purchaser
      By:   Bank of America, National Association, as Administrative Trustee    
        By:   /s/ Leif E. Rauer       Name:   Leif E. Rauer       Title:   Vice
President       BANK OF AMERICA, NATIONAL ASSOCIATION,
     as an APA Bank
      By:   /s/ Leif E. Rauer       Name:   Leif E. Rauer       Title:   Vice
President  

Signature Page to Series 2006-2 Consent

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4

            LIBERTY STREET FUNDING LLC, as a CP
     Conduit Purchaser
      By:   /s/ Jill A. Russo       Name:   Jill A. Russo       Title:   Vice
President       THE BANK OF NOVA SCOTIA, as an APA Bank
      By:   /s/ Michael Eden       Name:   Michael Eden       Title:   Director
 

Signature Page to Series 2006-2 Consent

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5

            PARADIGM FUNDING, LLC, as a CP Conduit
     Purchaser
      By:   /s/ Evelyn Echevarria       Name:   Evelyn Echevarria       Title:  
Vice President       WESTLB AG, NEW YORK BRANCH, as an APA
     Bank
      By:   /s/ Karen Ngai       Name:   Karen Ngai       Title:   Director    
      By:   /s/ Michael Gilbuley       Name:   Michael Gilbuley       Title:  
Associate Director  

Signature Page to Series 2006-2 Consent

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6

            CHARTA, LLC, as a CP Conduit Purchaser
      By:   CITICORP NORTH AMERICA, INC.,
as Attorney-in-Fact             By:   /s/ James Murray         Name:   James
Murray        Title:   Managing Director        CITIBANK, N.A., as an APA Bank
      By:   /s/ Steven Vierengel        Name:   Steven Vierengel        Title:  
Director   

Signature Page to Series 2006-2 Consent

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7

            SHEFFIELD RECEIVABLES CORPORATION, as a
     CP Conduit Purchaser
      By:   /s/ Fouad Onbargi        Name:   Fouad Onbargi        Title:  
Director        BARCLAYS BANK PLC, as an APA Bank
      By:   /s/ Pierre Duleyrie        Name:   Pierre Duleyrie        Title:  
Director   

Signature Page to Series 2006-2 Consent

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8

            ATLANTIC ASSET SECURITIZATION LLC, as a
     CP Conduit Purchaser
      By:   /s/ Kostantina Kourmpetis        Name:   Kostantina Kourmpetis     
  Title:   Managing Director            By:   /s/ Sam Pilcer         Name:   Sam
Pilcer        Title:   Managing Director        CALYON NEW YORK BRANCH, as an
APA Bank
      By:   /s/ Kostantina Kourmpetis        Name:   Kostantina Kourmpetis     
  Title:   Managing Director            By:   /s/ Sam Pilcer         Name:   Sam
Pilcer        Title:   Managing Director   

Signature Page to Series 2006-2 Consent

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9

            WINDMILL FUNDING CORPORATION, as CP
     Conduit Purchaser
      By:   /s/ Jill A. Russo        Name:   Jill A. Russo        Title:   Vice
President        ABN AMRO BANK N.V., as APA Bank and
     Funding Agent
      By:   /s/ David Viney        Name:   David Viney        Title:   Managing
Director   

Signature Page to Series 2006-2 Consent