Two partners have a reference overlap. What happens if the second partner to deliver the reference file selects “Assert Exclusive Rights”?

The first partner will immediately lose claims on the content and should remove the overlapping portion from their reference.
User videos that match only the excluded portion will be claimed by both partners, but excluded from the other partner’s list of claims.
User videos that match only the excluded portion will be given to the second partner who selected “Assert Exclusive Rights”.
The first partner will be asked to review the overlap, and either assert exclusive rights or exclude the overlapping segment from their reference.