Template:Isda 6(b)(ii) summ

Once the {{{{{1}}}|Waiting Period}} expires, it will be a {{{{{1}}}|Termination Event}} entitling either party to terminate some or all {{{{{1}}}|Affected Transactions}}. Partial termination is permitted because the impact on an event on each {{{{{1}}}|Transaction}} may differ from case to case (eg transactions forming part of a structured finance deal like a repack or a CDO) might not be easily replaced, so the disadvantages of terminating may outweight the advantages.

Note though that if an {{{{{1}}}|Non-Affected Party}} does elect partial termination, the {{{{{1}}}|Affected Party}} has the right to terminate some or all of the remaining {{{{{1}}}|Transactions}}: this prevents {{{{{1}}}|Non-Affected Parties}} being opportunistic. Heaven forfend.