这个Novation是什么意思？

问题如下：

What are the benefits of novation?

选项：

A.

Allows both party to walk away from the contract in case of default

B.

A bilateral contract specifying that upon default, the non-defaulting party nets gains and losses with the defaulting counterparty to a single payment for all covered transactions

C.

Financial market contracts can be terminated upon an event of default prior to the bankruptcy process

D.

Obligations are amalgamated with others

解释：

“a” is a walk-away clause.

“b” is a close-out netting.

“c” is Termination