What happens if I dont install RDS User CALs?

Hi,

Before I ask my question, let me tell you what I did so far.

I setup a Windows Server 2012 R2 server. 
Changed following GPO configuration settings located at: Computer Configuration\Policies\Administrative Templates\Windows Components\Remote Desktop Services\Remote Desktop Session Host\Licensing
- Use the specified Remote Desktop license servers
- Set the Remote Desktop licensing mode

Enabled the latter and selected Per User setting.
I also went to RD Licensing Manager and Activated the server.

In the RD Licensing Diagnoser, I see following error:
"The Remote Desktop Session Host server is in Per User licensing mode and No Redirector Mode"

Following is my question:
What happens if I dont install User CALs? Will remote desktop services stop working after 120 days or some??

Thanks a lot for answers.