The term 'But on the other hand' is a phrase used to indicate that there is a contrasting opinion or idea. It can be broken down into two words, 'YET' and 'WHEREAS'. 'YET' is an adverb meaning 'up to the present or a specified time; by now or then' while 'WHEREAS' is a conjunction meaning 'in contrast or comparison to'. Together, these two words form the phrase 'But on the other hand', which is used to express a contrasting opinion or idea.