No, I don't think so; you can only reserved 4 hrs ahead per single reservation but multiple times per day once 4 hrs is up. Depending on how busy system is, you should be able to reserve it several times during the same day.
I were able to use SandBox's CML 3 times per day in a row one time. So, I am Not sure if there is daily limit for CML. I guess it depends on daily demands.
Regards, ML
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