When the latch enable input is high, the Q outputs of HD74HC373 will follow the D inputs and the Q outputs of HD74HC533 will follow the inversion of the D inputs. When the latch enable goes low, data at the D inputs will be retained at the outputs until latch enable returns high again. When a high logic level is applied to the output control input, all outputs go to a high impedance state, regardless of what signals are present at the other inputs and the state of the storage elements.
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