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Bouncing describes the process of exporting a particular Sample or Track and replacing the outgoing Sample or Track with the exported audio. Usually bouncing is applied, when you run out of effect slots or when the real-time audio processing gets too CPU-consuming. In such a case you can bounce a sample or a track to a single audio file with all real-time processing rendered into.
A bounced Sample or Track sounds exactly the same as it sounded before it was bounced, but with the benefit that all the used audio processing is no longer applied in real-time.