If the Keyword Type selected belongs to a Multi-Instance Keyword Type Group, all instances containing the old Keyword Value are replaced with the new Keyword Value.
If the Delete All Existing Values option is selected when configured to use a Keyword Type within a Multi-instance Keyword Type Group, the Keyword Value of the Keyword Type will be removed from all Multi-Instance Keyword Type instances that exist. A new Multi-Instance Keyword Type Group instance is created with the new Keyword Value.