common code, def a function vs exec() a string

[Skaperen]

documentation of the exec() builtin function describes passing it either a string (i've done that before) or a code object. what is a code object and how do i make one?

the short explanation is the i need to run some code that is written once and do that run of it in two places. this code also needs to run in the same context (sees all the same namespace. normal functions don't do this; they create a new context. so i need a way to run that block of code from 2 different places while keeping it in the same context.

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i tried it; it doesn't work. a break done inside exec() where the exec() is in a loop does not exit that loop. the error message said break was done not in a loop,