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This paper describes the design of the 46B Cable Carrier Terminal. Included is a description of the modulation plan. A unique frequency correction and regeneration plan is used which provides absolute end-to-end synchronization. The noise improvement resulting from the use of an active-tracking (phase-lock) filter rather than a passive filter for pilot pickoff is described. Some general comments are made upon the relationship between level stability requirements expressed in statistical terms and in specific requirements thereby imposed on the circuit design. Measured performance values are given.