Partial Close Out Sample Clauses

The Partial Close-Out clause allows for the termination or settlement of only a portion of outstanding obligations or transactions under an agreement, rather than requiring all positions to be closed at once. In practice, this means that if a triggering event occurs—such as a default or a change in market conditions—only specific trades or contracts identified by the parties are closed out, while the remainder continue unaffected. This clause provides flexibility in managing risk and exposure, enabling parties to address issues with particular transactions without disrupting the entire contractual relationship.