Generating MIDI Timecode |
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From the Options menu, choose MIDI In/Out, and then choose Generate MIDI Timecode from the submenu if you want to generate MIDI timecode (MTC) when you click Play 
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MIDI timecode (MTC) is a standard timecode that most applications and some hardware devices will use to synchronize themselves.
You can specify a MIDI output port on the MIDI/Sync tab in the Preferences dialog.