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This template returns the last word of the first parameter, i.e. the last non-space token after the last space. Use |1= for the first parameter if the string may contain an equals sign (=).
By default, words are delimited by spaces, but the optional parameter |sep= can set the separator to any character. Exception: If a percent sign (%) is wanted as separator, |sep= has to be set to %% instead of %. This is because the percent sign is a special symbol in Lua patterns which is used to represent character classes.