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Create Word Template with repeating text

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Last Modified: 2015-05-27
I want to create a Word template which has a field at the top called CompanyName. I then want it to automatically update the document in multiple places elsewhere. I'm missing how to do this. Can anyone help?

Example Document:

Agreement between [CompanyName] and [Individual]

For the purpose of this agreement, [CompanyName] shall hold [Individual] liable for all fees incurred by [CompanyName] etc...
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