I’m gonna say 3 with the stipulation that once you’ve matched the Kings consecutive defences streak, you have to beat the King. If you win you become the King. If you lose, the King can decide whether he wants the LBT/A title himself (and have to actively defend it) or allow you to keep it but knocks your streak right back to 0. Of course this means the King has to be active. Once someone’s matched his streak if he doesn’t defend his crown in the next LBT/A card, the event goes on as usual with the next contender up and if the LBT/A holder beats that contender, they become the new King.
No shows, if they were Standard scheduled title matches, must count. It’s not fair to the champion.
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