Getting Cubase To Instantly Stretch/Compress Audio Loops?

[highmarcs]

I'm coming from another DAW (Studio 1), where I can just drag an audio loop into a project and it is instantly stretched or compressed to the project tempo. If I change the project tempo up or down, all audio loops in the project instantly adjust in accordance.

I'm thinking of moving to Cubase, but I can't seem to get Cubase to do this. Can it do this? If it can, how?

Thanks!