I would like to write a script with `sed` command as I guess this is most suitable command for my goal. 
There is a file called `NAME` which consists of different names ordered in columns like:

```
STEVE
JOHN
CLARE

```

The script should do:

1. Get `$value` from `NAME` file
2. Replace `$value` with the constant value ('ARNOLD') by `sed 's/"'$i'"/ARNOLD/g' test1.log>test2.log` (test1 and test2 files are identical).

I prepared my version of script but it worked only for the latest value in the list of names:

```
while read i; do sed 's/'"$i"'/ARNOLD/g' test1.log >test2.log ; done<name

```