PURPOSETo provide looping
This is the name of the loop. It's used to identify within the parameter set what variables to expose to the children nodes each iteration.
<loop name="LOOPY"> ... Children here ... </loop>
In the above example, the children nodes would have access to the LOOPY array of hashes as parameters. Each iteration through the array would expose a different hash of parameters to the children.
These loops work just like HTML::Template's loops. (I promise I'll give more info here!)
There is one difference - I prefer using Perl-like scoping, so accessing of variables outside the LOOP scope from within is perfectly acceptable. You can also hide outside variables with inner values, if you desire, just like Perl.