Replace is an overwrite edit where the edit sequence does not ripple. If the source clip is a different length than the element it replaces, the source clip is shortened or lengthened proportionally to fit the duration of the replaced element. This creates a timewarp effect with a mix value of 0.
In the following illustration, New Clip replaces Clip B. Although New Clip is longer than Clip B, the overwrite operation does not change the duration of the record clip. Only the exact number of frames in New Clip that are needed to fill Clip B are used.
To replace in the schematic: