I use the word "clip" in the usual signal processing sense (not the audio use for clip ie a piece if sound) When a signal has too large an amplitude for a given path and the path replaces the large excursions with the max that the path can handle the signal is said to be clipped.
Actually when I made this posting I wondered if I should have defined the term. I was amiss not to have done it --so belatedly
For a selected section if a signal I wish to choose some maximum and have the software change all those values which exceed this max to the
selected max value. It would be nice if one could choose separate max's for each of the channels but that is of only minor import.