Bash Script involving Text Search from the Clipboard

Suppose I have copied to the clipboard the following two lines of text:

Row 1: ABC

Row 2: DEF

Suppose I have a bash command BashArgument which takes two arguments:

$ BashCommand arg1 arg2

Is there a way for me to create a bash script which executes BashCommand with the string ABC (from Row 1) and the string DEF (from Row 2) as arg1 and arg2, respectively? That is, I execute the bash script and the output is

BashCommand ABC DEF

How does one do this?