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Execute the contents if the previous <if> tag didn't, or if there was a <false> tag above. This tag also detects if the page's truth value has been set to false, which occurrs whenever a runtime error is encountered. The <emit> tag, for one, signals this way when it did not loop a single time.
This tag is cache static (see the <cache> tag) if the compatibility level is set to 2.5 or higher.