True position and position tolerancing
The fetched Omni true position page explains that true position checks whether the measured feature axis lies close enough to the ideal drawing location. Unlike square coordinate tolerance zones, position tolerancing uses a cylindrical zone around the true location.
Formula for calculating true position of a hole or shaft
PV = 2 x sqrt((TB - MB)^2 + (TC - MC)^2)
Total tolerance = position tolerance + bonus tolerance
MMC, LMC, and bonus tolerance
Omni adds bonus tolerance when MMC or LMC is specified. For MMC, the bonus is the absolute difference between actual size and MMC size. For LMC, it is the absolute difference between actual size and LMC size. For RFS, the bonus is zero.