What this will do is load up every single max file in the directory of your current scene file, and render each of them. Useful if you have a bunch of max files you want to render overnight on a single PC. You can just copy all those files into any directory, and set them all up with the render settings you want.
And then run the script, it will read all the max files in the present dir, and load them one at a time, and render each out.