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This member holds the time that an event was generated. This might not be the same as the time when the event information was written to the event log. For the latter, read the EventLogEntry.TimeWritten property.
There is usually a lag between the time that an event is generated and the time it is logged. It is more important to know when the event was generated, unless you want to see if there is a significant lag in logging. That can happen if your log files are on a different server and you are experiencing a bottleneck.