<%SetArg
  name='FOO'
  value={<%Page/f template={foo-value}%>}
%>

<%SetArg
  name='VAR1'
  value={<%Condition/f
           a.arg='FOO'
           a.pass
           a.template='foo-is-set-<$FOO$>'
           default.template='foo-is-not-set'
         %>}
%>

<%SetArg
  name='VAR2'
  value={v2:<%Condition/f
           a.arg='FOO'
           a.pass
           a.template='foo-is-set-<$FOO$>'
           default.template='foo-is-not-set'
         %>}
%>

<%SetArg
  name='VAR3'
  value={v3:<$VAR2/f$>:<%Condition/f
           a.arg='FOO'
           a.pass
           a.template='foo-is-set-<$FOO$>'
           default.template='foo-is-not-set'
         %>}
%>

<%SetArg
  name='VAR4'
  value={v4:<%Condition/f
           a.arg='FOO'
           a.pass
           a.template='foo-is-set-<$FOO$>'
           default.template='foo-is-not-set'
         %>}
%>

Some text

<%Condition
  a.arg='FOO'
  a.template="Another text"
%>

And finally more text <!-- with a comment -->

A bunch of variables:

<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>
<$VAR1/f$> <$VAR2/h$> <$VAR3/q$> <$VAR4$>

And a bunch of objects

<%Date format='%Y-%m-%d' gmtime='1'%> - Date - <%Date format='%Y-%m-%d' gmtime='2'%> - Date -
<%Date format='%Y-%m-%d' gmtime='1'%> - Date - <%Date format='%Y-%m-%d' gmtime='2'%> - Date -
<%Date format='%Y-%m-%d' gmtime='1'%> - Date - <%Date format='%Y-%m-%d' gmtime='2'%> - Date -
<%Date format='%Y-%m-%d' gmtime='1'%> - Date - <%Date format='%Y-%m-%d' gmtime='2'%> - Date -
<%Date format='%Y-%m-%d' gmtime='1'%> - Date - <%Date format='%Y-%m-%d' gmtime='2'%> - Date -
<%Date format='%Y-%m-%d' gmtime='1'%> - Date - <%Date format='%Y-%m-%d' gmtime='2'%> - Date -
<%Date format='%Y-%m-%d' gmtime='1'%> - Date - <%Date format='%Y-%m-%d' gmtime='2'%> - Date -
<%Date format='%Y-%m-%d' gmtime='1'%> - Date - <%Date format='%Y-%m-%d' gmtime='2'%> - Date -
<%Date format='%Y-%m-%d' gmtime='1'%> - Date - <%Date format='%Y-%m-%d' gmtime='2'%> - Date -
<%Date format='%Y-%m-%d' gmtime='1'%> - Date - <%Date format='%Y-%m-%d' gmtime='2'%> - Date -

That's it.