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On Time
When a specific or random time is elapsed or matches the current simulation time, the Point is triggered.
Fixed Time
When Fixed Time is selected, as soon as the specified time is elapsed, the Point triggers.
For i.e: if the Point is inside a Logic with a Fixed Time set to 10 seconds. If the Logic is triggered 1 minute after the simulation start, then the Point will be triggered 1 minute 10 seconds after the simulation start.
A random value (according to the Distribution) will be taken at Point initialization. This random value between Min and Max values will act as Fixed Time.