What does the TERRITORY component of the NLS_LANG parameter control?

From OTN:

"The territory component of the NLS_LANG parameter controls the operation of a subset of globalization support features.
It specifies conventions such as the default date, monetary, and numeric formats. Each supported territory has a unique name, for example, AMERICA, FRANCE, or CANADA.
If the territory is not specified, then the value is derived from the language value."

For examples please see the Globalization Support Guide