$multipass

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$multipass is a material shader parameter available in all Source games. It forces a material to be rendered in separate rendering "passes." This can fix issues with translucent materials, although rendering will be more expensive. This command is required to allow DX6 + DX7 users to see cubemaps. It has also been used on breakable glass materials.

Todo: What does it exactly do, and for what other reasons is it needed?