A region is a section of your track. A region has a starting and ending position, a name, and optionally loops. You can click a region while in track manager and press Del (delete the region) or the L key (Increase loop count) or Shift + L (Decrease loop count).
A looping region can also have an exit position. When the last loop is executed, the sequence exits from the region when it reaches the exit point. This allows you to simulate the repeat "1" and "2" features of a score.
You may use a region name in scripts. Regions can also be loaded from Scripts .