Hello;
The Pulse Period.vi is measuring the time the input pulse is high or low, and the time limit is the period to wait for a valid measurement, which means, you can set up a time out if a valid pulse didn't come to the counter gate pin. If time limit is -1.0 (default), the time limit is set to five seconds or four times the range of the counter at the selected timebase (4*65,536/timebase) in seconds for the Am9513 and (4*16,777,216/timebase) for the DAQ-STC), whichever is larger. You can input customized values at this parameter as you wish.
Hope this helps.
Filipe