Exhibit 7(d)

      AMENDED AND RESTATED SUPPLEMENT TO SCHEDULE A, DATED December 3, 2008

      To the Administration Agreement (the "Administration Agreement"), dated as
of September 29, 2006, between Merrill Lynch Funds for Institutions Series (the
"Trust"), a Massachusetts business trust, on behalf of itself and each of its
series listed on Schedule A (each a "Fund" and together the "Funds"), and
BlackRock Advisors, LLC (the "Administrator"), a Delaware limited liability
company.

      The Trust on behalf of Merrill Lynch Select Institutional Fund hereby
joins and agrees to be bound as of the date hereof by the Administration
Agreement. This Amended and Restated Supplement replaces in its entirety that
Supplement to Schedule A to the Administration Agreement dated as of November
16, 2007.

                               ADMINISTRATION FEE

                                                Percentage of the average daily
                  Fund                               Net Assets of the Fund
                  ----                               ----------------------
Merrill Lynch Select Institutional Fund                      0.13%*

* In exchange for the Administration Fee for the Merrill Lynch Select
Institutional Fund, the Administrator agrees to pay all other ordinary expenses
of the Fund, other than the Fund's pro rata portion of the advisory fee of the
Merrill Lynch Institutional Portfolio of the Master Institutional Money Market
LLC, the corresponding "master" portfolio in which the Fund invests all of its
assets, payable indirectly by the Fund as an interest in the Institutional
Portfolio so that the Fund's total annual operating expenses minus extraordinary
expenses, if any, shall be no greater than 0.18% of the Fund's net assets. These
other ordinary expenses include, but are not limited to, all other expenses
incurred in the operation of the Fund, including, among other things, taxes,
expenses for legal and auditing services, costs of printing proxies, shareholder
reports and prospectuses and statements of additional information, charges of
the custodian, any sub-custodian and any transfer agent, expenses of portfolio
transactions, expenses of redemption of shares, Securities and Exchange
Commission fees, expenses of registering the shares under federal, state or
non-U.S. laws, fees and actual out-of-pocket expenses of the Trustees of the
Trust who are not affiliated persons of the Administrator, or of an affiliate of
the Administrator, accounting and pricing costs (including the daily calculation
of the net asset value), insurance, interest, brokerage costs and other ordinary
expenses properly payable. In the event that the Administrator does not pay such
expenses of the Fund, the Administration Fee shall be automatically reduced by
an amount equal to the amount of such expenses not paid by the Administrator.

Acknowledged and Agreed:

                                        MERRILL LYNCH FUNDS FOR INSTITUTIONS
BLACKROCK ADVISORS, LLC                 SERIES, on behalf of its series
                                        MERRILL LYNCH SELECT INSTITUTIONAL FUND

By:   /s/ Donald C. Burke                By:   /s/ Donald C. Burke
     --------------------------               ----------------------------------
     Name:  Donald C. Burke                   Name:   Donald C. Burke
     Date:    Managing Director               Title:     Chief Executive Officer