VRD Securities definition
VRD Securities means variable rate demand Municipal Securities which are repriced at least once a month or variable rate demand Municipal Commercial Paper. "VRD Eligible Securities in Liquidation" means Eligible Securities which have been designated as "VRD Eligible Securities in Liquidation" by the Collateral Agent pursuant to Section 3.05, effective from the time of such designation until such Securities are transferred out of the Securities Collatcral Account in accordance with Section 3.05.
VRD Securities or "VRD Securities in Liquidation", (iii) increase any of the Applicable Percentages, (iv) alter the terms of this Section 8.04 or (v) modify the definition of the term "Required Lenders" or modify in any other manner the number or percentage of the Lenders required to make any determinations or waive any rights hereunder or to modify any provision hereof, and (b) any modification or supplement of Section 7 hereof shall require the consent of the Collateral Agent.