I didn't dig that deep, but I would presume it would work very similar to named user licensing, except that they are monitoring your usage in 24 hour chunks.  

Any comments on this @Tiana_Y ?

Also, is there a minimum period before the "day is counted". For example, if a user mistakenly opens AutoCAD and then shuts it down. Does that count as a day usage? Apologies if this is in the aforementioned documentation, I have not scanned it thoroughly yet. Thank you.