A wait statement prevents silktest from consuming processor power for the specified period of time. Can be used to avoid race conditions occuring between processes.
For example in my web-based application a certain task was consuming a lot of processor power due to the amount of text being printed out from my repository to internet sxplorer. On top of that silktest was waiting for a particular text to appear on the same browser. A combination of both these processes caused a race condition which had to be avoided. So I had a wait time in silktest which acted as sleep for a few seconds and search again.
A wait statement is mostly used to avoid race conditions. For example in my application there was a race condition occuring between repository which was trying to add information to the internet explorer and silktest which was polling the same browser for a particular text item to appear. The race condition occuring between this was taken care of by adding a wait/sleep in silktest which would wait for the specified period of time before polling again.