Read the Owners Manual first!
Multiband Compressor block
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This is an Ultra-only effect. The Multiband compressor (MBC) is a valuable asset if you want single notes to stand out and keep note definition in distorted chords, or as an alternative to using a PEQ. There's an great tutorial on this Wiki page. http://wiki.fractalaudio.com/index.php?title=MultiBand_compressor_tutorial