What is LTC QuickLock, and how is it different from LTC and what is the advantage?

Similiar to the "LTC" function, "LTC QuickLock" will also convert incoming SMPTE time code (LTC) to MIDI time code (MTC). The difference with "LTC QuickLock" versus "LTC" is that the phase lock engine of the MIDI Time Piece is disabled under "LTC QuickLock".

If you are slaving a MIDI only sequence to SMPTE time code (LTC), you will experience a slight delay before the sequence establishes sync. This is due to the phase lock engine inside of the MTP. This feature is not necessary if you are slaving a MIDI only sequence to SMPTE time code (LTC). "LTC QuickLock" disables the digital audio phase lock engine providing a faster lock to the MIDI sequence.