After the loop is finished, the game simply moves on to the next event below.
The 4 repeats would all happen on each single read-through of the event sheet (1 tick), so for example: 'repeat 4 times>' would be the equivalent of having the same event 4 times consecutively.
Whereas the non-existant "trigger 4 times" would cause it to happen on each tick for the next 4 ticks... which I have a feeling is how you imagined loops to work. (I was the same)
If the sub-events conditions aren't met, then it's actions and any further sub-events won't run.
This is the same case for sub-events everywhere... The loop will continue if it has other stuff to do.