Exhibit 4.5.11




---



##### 



Table of Contents
 PagePRELIMINARY STATEMENT
    
    
    1DESIGNATION
    
    
    1ARTICLE I DEFINITIONS
    
    
    1ARTICLE II ARTICLE 5 OF THE BASE INDENTURE
    
    
    19Section 5A.1 Establishment of Series 2009-1 Subaccounts
    
    
    19Section 5A.2 Allocations with Respect to the Series 2009-1 Investor Notes.
    
    
    20Section 5A.3 Determination of Interest
    
    
    21Section 5A.4 Monthly Application of Collections
    
    
    22Section 5A.5 Payment of Monthly Interest Payment
    
    
    24Section 5A.6 Payment of Principal
    
    
    24Section 5A.7 The Administrators Failure to Instruct the Indenture Trustee to
Make a Deposit or Payment
    
    
    25Section 5A.8 Series 2009-1 Reserve Account
    
    
    26Section 5A.9 Series 2009-1 Yield Supplement Account
    
    
    27Section 5A.10 Series 2009-1 Distribution Account
    
    
    28Section 5A.11 Lease Rate Caps
    
    
    29Section 5A.12 Indenture Trustee As Securities Intermediary
    
    
    31ARTICLE III AMORTIZATION EVENTS
    
    
    32ARTICLE IV OPTIONAL PREPAYMENT
    
    
    34ARTICLE V SERVICING AND ADMINISTRATOR FEES
    
    
    35Section 5.1 Servicing Fees
    
    
    35Section 5.2 Administrator Fee
    
    
    35ARTICLE VI FORM OF SERIES 2009-1 NOTES
    
    
    35Section 6.1 Initial Issuance of Series 2009-1 Investor Notes
    
    
    35Section 6.2 Restricted Global Note
    
    
    35Section 6.3 Temporary Global Note and Permanent Global Note
    
    
    36Section 6.4 Definitive Notes
    
    
    36Section 6.5 Transfer Restrictions
    
    
    36ARTICLE VII INFORMATION
    
    
    41ARTICLE VIII MISCELLANEOUS
    
    
    41Section 8.1 Ratification of Indenture
    
    
    41Section 8.2 Governing Law
    
    
    41Section 8.3 Further Assurances
    
    
    42Section 8.4 Exhibits
    
    
    42
 -i-




---



##### 



PageSection 8.5 No Waiver; Cumulative Remedies
    
    
    42Section 8.6 Amendments
    
    
    42Section 8.7 Severability
    
    
    42Section 8.8 Counterparts
    
    
    42Section 8.9 No Bankruptcy Petition
    
    
    43Section 8.10 SUBIs
    
    
    43Section 8.11 Notice to Rating Agencies
    
    
    44Section 8.12 Conflict of Instructions
    
    
    44
 EXHIBITS
 Exhibit A-1:
    
    Form of Restricted Global Investor NoteExhibit A-2:
    
    Form of Temporary Global Investor NoteExhibit A-3:
    
    Form of Permanent Global Investor NoteExhibit B-1:
    
    Form of Transfer CertificateExhibit B-2:
    
    Form of Transfer CertificateExhibit B-3:
    
    Form of Transfer CertificateExhibit B-4:
    
    Form of Clearing System CertificateExhibit B-5:
    
    Form of Certificate of Beneficial OwnershipExhibit C:
    
    Form of Monthly Settlement StatementExhibit D:
    
    Form of Lease Rate Cap
 -ii-




---



##### 



Indenture Supplement Issuer Indenture Trustee Base Indenture
 PRELIMINARY STATEMENT
 Sections 2.2 12.1
  DESIGNATION
   Section 5A.2(b)
   Schedule 1




---



##### 



2   Additional Interest Section 5A.3(b)
 Amortization Event Article 3
 Applicable Procedures Section 6.5(c)
 Calculation Agent
 Car
 Charge-Off Ratio
 Clearstream Section 6.3
 Deficiency Section 5A.4(b)(i)
 Delinquency Ratio
 DTC
 Equipment
 Euroclear Section 6.3
 Excess Alternative Vehicle Amount




---



##### 



3    Excess Equipment Amount
    Excess Forklift Amount
    Excess Heavy-Duty Truck Amount




---



##### 



4    Excess High Lease Balance Amount
 Excess Longer-Term Lease Amount
 Excess Medium-Duty Truck Amount
    Excess State Obligor Risk Amount




---



##### 



5  Excess Trailer Amount
    Excess Truck Amount
    Excess Truck Body Amount




---



##### 



6   Final Maturity Date
 Finance Charge Rate
 Financial Assets Section 5A.12(b)(i)
 Forklift
 Gross Vehicle Weight
 Heavy-Duty Truck
 Indenture Supplement
 Interest Shortfall Amount Section 5A.3(b)
 Lease Rate Cap Event Section 5A.11
 LIBOR Determination Date
 Light-Duty Truck
 London Business Day
 Management Fee Yield




---



##### 



7  Medium-Duty Truck
 Monthly Interest Payment Section 5A.3(b)
 New York UCC Section 5A.12(b)(i)
 One-Month
LIBOR provided, however provided, further provided, finally
 Outstanding except Section 11.1
 Overconcentration Amount




---



##### 



8  Paid-In Advance Loss Ratio
 Payment Date
 Permanent Global Note Section 6.3
 Prepayment Date Article 4
 QIBs Section 6.1




---



##### 



9 Rating Agencies
 Rating Agency Condition
 Record Date
 Reference Banks
 Regulation S
 Remaining Lease Term
 Residual Value Loss Ratio
 Restricted Global Note Section 6.2
 Restricted Notes Section 6.5
 Restricted Period
 Rule 144A
 Securities Intermediary Section 5A.12(a)




---



##### 



10 Series 2006-1 Indenture Supplement
 Series 2006-1 Investor Notes
 Series 2009-1
 Series 2009-1 Administrator Fee Section 5.2
 Series 2009-1 Allocated Adjusted Aggregate Unit Balance
 Series 2009-1 Allocated Asset Amount Deficiency
 Series 2009-1 Amortization Period
 Series 2009-1 Available Excess Collections Amount Section 5A.2(a) Section 5A.4(c)
 Series 2009-1 Basic Servicing Fee Section 5.1




---



##### 



11 Series 2009-1 Basis Spread
 Series 2009-1 Closing Date
 Series 2009-1 Collateral
 Series 2009-1 Collection Subaccount Section 5A.1(a)
 Series 2009-1 Designated Account Section 5A.12(a)
 Series 2009-1 Distribution Account Section 5A.10(a)
 Series 2009-1 Eligible Counterparty Section
5A.11
 Series 2009-1
Gain on Sale Account Percentage
 Series 2009-1 Global Notes
 Series 2009-1 Initial Invested Amount
 Series 2009-1 Interest Period provided however
 Series 2009-1 Invested Amount




---



##### 



12 Series 2009-1 Invested Percentage
 Series 2009-1 Investor Noteholder
 Series 2009-1 Investor Note Owner
 Series 2009-1 Investor Notes Exhibit A-1 A-2 A-3 Section 2.11
 Series 2009-1 Liquid Credit Enhancement Deficiency
 Series 2009-1 Minimum Yield Rate
 Series 2009-1 Monthly Interest




---



##### 



13  Series 2009-1 Monthly Residual Value Gain
 Series 2009-1 Monthly Servicer Advance Reimbursement Amount
 Series 2009-1 Note Rate
 Series 2009-1 Note Termination Date
 Series 2009-1 Principal Collection Subaccount Section
5A.1(a)
 Series 2009-1 Principal Payment Amount
 Series 2009-1 Required Asset Amount
 Series 2009-1 Required Enhancement Amount




---



##### 



14




---



##### 



15  provided however
 Series 2009-1 Required Investor Noteholders
 Series 2009-1 Required Overcollateralization Amount Section 5A.2(d)
 Series 2009-1 Required Percentage
     Series 2009-1
Required Reserve Account Amount
 Series 2009-1 Required Yield Supplement Amount




---



##### 



16  Series 2009-1 Reserve Account Section 5A.8(a)
 Series 2009-1 Reserve Account Amount
 Series 2009-1 Reserve Account Surplus
 Series 2009-1 Revolving Period
 Series 2009-1 Servicing Fee Percentage Section 5.1
 Series 2009-1 Settlement Collection Subaccount Section
5A.1(a)
 Series 2009-1 Subaccounts Section 5A.1(a)
 Series 2009-1 Supplemental Servicing Fee Section 5.1
 Series 2009-1 Weighted Average Cost of Funds divided
 Series 2009-1 Yield Shortfall
 Series 2009-1 Yield Shortfall Amount




---



##### 



17  Series 2009-1 Yield Shortfall Lease
 Series 2009-1 Yield Shortfall Lease Average Balance
 Series 2009-1 Yield Shortfall Lease Break Even Amount
 Series 2009-1 Yield Shortfall Lease Remaining Term
 Series 2009-1 Yield Supplement Account Section 5A.9(a)
 Series 2009-1 Yield Supplement Account Amount




---



##### 



18 Series 2009-1 Yield Supplement Account Surplus
 Series 2009-1 Yield Supplement Deficiency
 Temporary Global Note Section 6.3
 Three Month Average Charge-Off Ratio
 Three Month Average Delinquency Ratio
 Three Month Average Paid-In Advance Loss Ratio
 Three Month Average Residual Value Loss Ratio
 Total Cash Available Section 5A.2(a) Section 5.2(e) Section 5A.1(b) Section 5A.2(f)
 Tractor




---



##### 



19 Trailer
 Transfer Date
 Truck
 Truck Body
   Sections 5.1 5.4 Article 5 Sections 5.1 5.4
 Section 5A.1 Establishment of Series 2009-1 Subaccounts.
 Series 2009-1 Collection Subaccount Series 2009-1 General Collection Subaccount, Series 2009-1 Principal Collection Subaccount Series 2009-1 Settlement
Collection Subaccount Section 5A.1(a) Series 2009-1 Subaccounts




---



##### 



20  Section 5A.2 Allocations with Respect to the Series 2009-1 Investor Notes.
  Section 5A.2(e)
 Section 5.2(e)




---



##### 



21   Sections 5A.11
    Section 5A.4(c)
 Section 5A.3 Determination of Interest.
  Interest Shortfall Amount




---



##### 



22 Monthly Interest Payment over Section 5A.5 pro rata Additional Interest
 Section 5A.4 Monthly Application of Collections.
 Section 5A.1(b)
 Section 5A.4(c) Deficiency




---



##### 



23 Section 5A.4(c)(viii) Section 5A.6 Section 5A.4(b)(i) Section
5A.4(b)(i)
    plus Section 9.1




---



##### 



24        Section 5A.5 Payment of Monthly Interest Payment.
 Section 6.1 pro rata Section 5A.4(c)(iv)
 Section 5A.6 Payment of Principal.




---



##### 



25  Section 6.1 pro rata Section
5A.4(c)(viii) Section 5A.4(b)(ii)
  Section 5A.7 The Administrators Failure to Instruct the Indenture Trustee to Make
a Deposit or Payment.
 provided Section 5A.7




---



##### 



26 Section 5A.8 Series 2009-1 Reserve Account.
 Series 2009-1
Reserve Account provided
 provided however
   Section 5A.4(b)




---



##### 



27   Section 5A.9 Series 2009-1 Yield Supplement Account.
 Series 2009-1 Yield
Supplement Account provided
 provided however




---



##### 



28 Section 5A.4(b)
   Section 5A.10 Series 2009-1 Distribution Account.
 Series 2009-1
Distribution Account provided
 provided however




---



##### 



29   Section 5A.11 Lease Rate Caps.




---



##### 



30    Section 5A.11




---



##### 



31 Section 5A.11 Section 5A.11
 Section 5A.12 Indenture Trustee As Securities Intermediary
 Series 2009-1 Designated Account Securities Intermediary Section 5A.12
  Financial Assets New York UCC




---



##### 



32 Section 5A.12(b)(v)




---



##### 



33




---



##### 



34    .
 
 Prepayment Date Section 5A.4(c)(iv) Section 5A.4(c)(viii)




---



##### 



35   Section 5.1 Servicing Fees Series 2009-1 Basic Servicing Fee Series Servicing Fee Percentage divided provided,
however Series 2009-1
Supplemental Servicing Fee Section 5A.4(c)
 Section 5.2 Administrator Fee Series 2009-1 Administrator Fee divided Section 5A.4(c)(vi
   Section 6.1 Initial Issuance of Series 2009-1 Investor Notes.
 QIBs
 Section 6.2 Restricted Global Note.




---



##### 



36 Exhibit A-1 Restricted Global Note
 Section 6.3 Temporary Global Note and Permanent Global Note.
 Exhibit A-2 Euroclear Clearstream Section 2.3 Temporary Global Note Exhibit B-4 Exhibit B-5 Exhibit A-3 Permanent Global Note
 Section 6.4 Definitive Notes.
 Section
2.11
 Section 6.5 Transfer Restrictions.
 provided, however Section 6.5(a) Section
6.5




---



##### 



37  Applicable Procedures Section
6.5(c) Exhibit B-1
 Section
6.5(d)




---



##### 



Exhibit D-2
 Section 6.5(e) Exhibit B-3




---



##### 



Sections 6.5(a) Section 6.5(e) Section 6.5(g)
 provided Section 6.5(g) Section 6.5(e)




---



##### 








---



##### 



Exhibit C
   Section 8.1 Ratification of Indenture
 Section 8.2 Governing Law THIS INDENTURE SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL
BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.




---



##### 



Section 8.3 Further Assurances
 Section 8.4 Exhibits
 Exhibit A-1:
    
    Form of Restricted Global Investor NoteExhibit A-2:
    
    Form of Temporary Global Investor NoteExhibit A-3:
    
    Form of Permanent Global Investor NoteExhibit B-1:
    
    Form of Transfer CertificateExhibit B-2:
    
    Form of Transfer CertificateExhibit B-3:
    
    Form of Transfer CertificateExhibit B-4:
    
    Form of Clearing System CertificateExhibit B-5:
    
    Form of Certificate of Beneficial OwnershipExhibit C:
    
    Form of Monthly Settlement StatementExhibit D:
    
    Form of Lease Rate Cap
 Section 8.5 No Waiver; Cumulative Remedies
 Section 8.6 Amendments
  Section 8.7 Severability
 Section 8.8 Counterparts




---



##### 



Section 8.9 No Bankruptcy Petition
   Section 8.10 SUBIs




---



##### 



Section 6.9
 Section 8.11 Notice to Rating Agencies
 Section 8.12 Conflict of Instructions




---



##### 



CHESAPEAKE FUNDING LLCBy:

/s/
Mark
E. JohnsonName:
    Mark
E. JohnsonTitle:
    Senior Vice President and TreasurerTHE BANK OF NEW YORK MELLON, as Indenture        TrusteeBy:

/s/
Jared FischerName:
    Jared FischerTitle:
    Assistant Treasurer [2009-1 Indenture Supplement]




---



##### 



No.
    
    $[]
  
   A-1-1




---



##### 



Issuer  Series 2009-1 Interest Period provided however
  A-1-2




---



##### 



VMS
   A-1-3




---



##### 



CHESAPEAKE FUNDING LLCBy:Name:Title:   THE BANK OF NEW YORK MELLON, as 
      Indenture TrusteeBy:Authorized Signatory A-1-4




---



##### 



Series 2009-1 Investor Notes Base Indenture Indenture Trustee Series 2009-1 Indenture Supplement Indenture
  Payment Date
   Series 2009-1 Note Rate One-Month LIBOR provided, however
 A-1-5




---



##### 



provided, further provided, finally
    Section
3806(b)(2) Del.C et seq
 A-1-6




---



##### 



Section 6.9
   A-1-7




---



##### 



Section 6.5
 A-1-8




---



##### 



Dated:
    
    
    
    
    
    By:
    
    
    
    1
 Signature Guaranteed:
 
 1/
    
    NOTE: The signature to this assignment must
correspond with the name of the registered owner as it appears on the face of
the within Series 2009-1 Investor Note, without alteration, enlargement or any
change whatsoever. A-1-9




---



##### 



No.
    
    $[]
  
   A-2-1




---



##### 



Issuer  Series 2009-1 Interest Period provided however
 VMS
  A-2-2




---



##### 



A-2-3




---



##### 



CHESAPEAKE FUNDING LLCBy:Name:Title:   THE BANK OF NEW YORK MELLON, as 
      Indenture TrusteeBy:Authorized Signatory A-2-4




---



##### 



Series 2009-1 Investor Notes Base Indenture Indenture Trustee Series 2009-1 Indenture Supplement Indenture
  Payment Date
   Series 2009-1 Note Rate One-Month LIBOR provided, however
 A-2-5




---



##### 



provided, further provided, finally
    Section
3806(b)(2) Del.C et seq
 A-2-6




---



##### 



Section 6.9
   A-2-7




---



##### 



Clearstream Euroclear
 A-2-8




---



##### 



2009-1 Restricted Period Exhibit A-3
   A-2-9




---



##### 



Section 6.5
 A-2-10




---



##### 



Social Security or taxpayer I.D. or other identifying number of assignee:
  (name and address of
assignee)
 
 Dated:
    
    
    
    
    
    By:
    
    
    

2
 Signature Guaranteed:
 
 2/
    
    NOTE: The signature to this assignment must
correspond with the name of the registered owner as it appears on the face of
the within Series 2009-1 Investor Note, without alteration, enlargement or any
change whatsoever. A-2-11




---



##### 



No.
    
    $[]




---



##### 



Issuer   Series 2009-1 Interest Period provided however
 VMS
   A-3-2




---



##### 



CHESAPEAKE FUNDING LLCBy:Name:Title:   THE BANK OF NEW YORK MELLON, as 
      Indenture TrusteeBy:Authorized Signatory A-3-3




---



##### 



Series 2009-1 Investor Notes Base Indenture Indenture Trustee Series 2009-1 Indenture Supplement Indenture
  Payment Date
   Series 2009-1 Note Rate One-Month LIBOR provided, however
 A-3-4




---



##### 



provided, further provided, finally
    Section
3806(b)(2) Del.C et seq
 A-3-5




---



##### 



Section 6.9
   A-3-6




---



##### 



Clearstream Euroclear
 A-3-7




---



##### 



Section 6.5
 A-3-8




---



##### 



Social Security or taxpayer I.D. or other identifying number of assignee:
  
  
 Dated:
    
    
    
    
    
    By:
    
    
    
    3
 Signature Guaranteed:
 
 3/
    
    NOTE: The signature to this assignment must
correspond with the name of the registered owner as it appears on the face of
the within Series 2009-1 Investor Note, without alteration, enlargement or any
change whatsoever. A-3-9




---



##### 



th
 
  
  B-1-1




---



##### 



[Insert name of Transferor]By:Name:Title:
 
 cc:
    
    Chesapeake Funding LLC
940 Ridgebrook Road
Sparks, Maryland 21152
Attention: General Counsel
 B-1-2




---



##### 



th
 
  
   B-2-1




---



##### 



[Insert name of Transferor]By:Name:Title:
 
 cc:
    
    Chesapeake Funding LLC
940 Ridgebrook Road
Sparks, Maryland 21152
Attention: General Counsel
 B-2-2




---



##### 



th
 
  
  B-3-1




---



##### 



[Insert name of Transferor]By:Name:Title: 
 cc:
    
    Chesapeake Funding LLC
940 Ridgebrook Road
Sparks, Maryland 21152
Attention: General Counsel
 B-3-2




---



##### 



th
 
  
  B-4-1




---



##### 



[EUROCLEAR BANK S.A./N.V., as operator of the
Euroclear System]By:Name:Title:[CLEARSTREAM BANKING, société anonyme]By:Name:Title: B-4-2




---



##### 



certification is
 B-5-1




---



##### 



*
 By:As, or as agent for, the beneficial
owner(s) of the Series 2009-1 Investor Notes to which
this certificate relates. 
 *
    
    Not earlier than fifteen (15) days prior to the
certification event to which the certification relates. B-5-2




---



##### 



C-1




---



##### 



D-1