On ESPN Fantasy Basketball, 

Games Played Limit indicates the number of games a team may use in a given matchup. 

If a team exceeds this value,
it will continue to accrue stats for the rest of the day until the end of matchup.

This value represents the limit for a standard matchup,  which is 7 days in length.
Longer or shorter matchups will have their limits scaled proportionally.

For example:
In a normal H2H leagues where it ends on Sunday night and league settings have 42 games set as the limit, 

• If Team A has 41 games by the end of Saturday's games, Team A can start whatever amount of players for Sunday.
  
  
• If Team A has 41 games by the end of Thursday's games, Team A can start whatever amount of players on Friday. If he starts even 1 player on Friday, his Saturday and Sunday's stats will not be counted. This is because at start of Saturday's game, the team has 42 games played and that is the limit. 

In another words:

If a team starts the day below the limit, the team can go over such limit till all his players finishes playing for the day. If a team starts the day over or at the limit, stats won't count until end of matchup.