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Why is the IES5502 Ready output pin open collector?

Collector ies5502 output Pin ready
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Why is the IES5502 Ready output pin open collector?

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This allows the ready outputs of multiple devices to be connected in wired-and (wired-or) configuration, and thus a single READY signal can be connected to the input of the master device (eg. Micro-controller), from many buffers.

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