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Please see section 2.1 of the RMII Master mode application note (http://www.ti.com/litv/pdf/snla101). I have included the relevant text below:
In addition, if the CLK_OUT pin is to be used as a 50 MHz RMII clock, the default PTP clock output
function must be disabled by clearing bit 15 (PTP_CLKOUT_EN) in register 0x14 (PTP_COC).
Patrick
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Patrick