It's an LFO with a host of convenient features and the ability to freeze & unfreeze with a pulse.
Set the rate in BPM with the bottom dial and get phase aligned sine, triangle, ramp, saw, and square LFOs (simultaneously) at the upper jacks. Convenient sliders let you trim each output, and since they extend to negative values, you can invert the wave too. Little red buttons also nudge the phase of any given waveform by 25%, allowing you to create interesting phase relationships between outputs.
At the bottom, a gate signal will stop the LFO in its tracks, and when the gate is released, the LFO will pick up where it left off. A +/- switch allows you to invert that behavior. The TRIG input toggles the freezing on/off when a new pulse is received (use the +/- switch to manually toggle). The "R" (for "reset") jack lets you use a pulse to set LFO to a precise moment along its waveform (set via the neighboring phase dial). At the center, is a pair of jacks that let you freeze other signals too. If nothing is connected here, a noise source is internally connected instead.
Taken together, you have a set of LFOs with useful tools on board and greater control to get it moving how you want it to. Notes can stop or start modulating as they sustain, a sequencer can make the modulation halt and resume, and you can get your LFO moving in response to the rest of your patch.