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| {{isdaanat|6(b)(ii)}} | | {{manual|MI|2002|6(b)(ii)|Section|6(b)(ii)|short}} |
| Note in the {{2002ma}} there is no reference here to {{isdaprov|Illegality}} (or for that matter {{isdaprov|Force Majeure}}, which did not exist under the {{1992ma}} but would have been included in this provision of the 1992 if it had.... if you see what I mean).
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| Once the {{isdaprov|Waiting Period}} expires, it will be a {{isdaprov|Termination Event}} entitling either party to terminate some or all {{isdaprov|Affected Transactions}}. Partial termination is permitted because the impact on an event on each {{isdaprov|Transaction}} may differ from case to case (eg transactions forming part of a structured financing like a repack or a CDO) might not be easily replaced, so the disadvantages of terminating may outweight the advantages.
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| Note though that if an {{isdaprov|Non-Affected Party}} does elect partial termination, the {{isdaprov|Affected Party}} has the right to terminate some or all of the remaining {{isdaprov|Transactions}}: this prevents {{isdaprov|Non-Affected Parties}} being opportunistic. Heaven forfend.
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