The idea is to allow an admin to create rules like this:
Date Field A.date-A of Entity A defines a period of time when Entity B is not available.
Entity A connects to Entity B with Entity Reference Field A.reference-B
When Entity C then tries to reference Entity B with an Entity Reference Field C.reference-B and defines a date range with Date Field C.date-A that is set within the time range defined by Date Field A.date-A, a validation error is thrown on save of Entity C, because Entity A has "reserved" or made Entity B unavailable in that time range.
The relationships are all configurable. Entity A and B could potentially be the same entity. The field relationships are all configurable as well, and a ctools multistep form wizard exists to help you get these complex rules set up.