The default key is the license key which is compiled into your EXE and used until the user supplies another license key you give them. Settings for the default key must be made before building your EXE. Settings for the default key are embedded in the Output EXE at the time of Build.

Days from first use when key expires
This field should be an integer from 0-4095 or "infinite".
0 - The license expires immediately, no use of the program is permitted until a valid license key is entered
When your program starts up,
1 - The license expires 24 hours after the first execution
2 - The license expires 2 days after the first execution
...
"infinite" or (blank) - The license has no restrictions for the number of days the program can be used.
Click here for more information about Relative Time Restrictions.
Maximum runs until key expires
This field should be an integer from 0-16777216
0 - The license expires immediately, no use of the program is permitted
1 - The license expires after the program has been run 1 time
2 - The license expires after the program has been run 2 times
...
"infinite" or (blank) - The license has no restrictions on the number of times the program can be run.
Click here for more information about Execution Count Restrictions.
Absolute Date key expires
This field should be an of the format YYYY-MM-DD
YYYY = Four digit year, must be between 2003-2258
MM = two digit month (01 = January, 12=December)
DD = two digit day of month
"never" or (blank) - The license has no restrictions on the maximum date the software can be used.
Click here for more information about Absolute Date Restrictions.
Machine ID required to run
By entering a user's machine ID, the generated key will only work for that computer. By leaving this field blank or "none" the created license key will work on any computer.
The machine ID must be obtained from the user before-hand.
Click here for more information about Machine IDs.
License Data String passed to Program
This allows optional data to be embedded in the key and passed to your program. Because the embedded date makes the text representation of your key longer, you should keep this string as short as possible. For more information on how to access this information in your program see the TS_LICINFO Environment Variable.
Click here for more information about Machine ID Restrictions.