"Time to wait for a response from endpoint" will be effective as soon as Tibco Mashery Local (ML) creates a connection to the Backend.
ML will return an error if the Backend doesn't respond within the specified (Time to wait for a response from endpoint) time.
"Seconds to attempt initial connection to endpoint" is the time Mashery Local (ML) will try to create a successful connection to the Backend.
To investigate further, please also refer to Article#
000042743 where different time fields captured in the access log are explained.