[mathematics] In general Ray-Knight type theorems of the first kind consider the field Lt at a hitting time of the underlying process, whilst theorems of the second kind are in terms of a stopping time at which the field of local times first exceeds a given value. where (Lt)t ≥ 0 is the field of local times of (Bt)t ≥ 0, and equality is... Found on http://en.wikipedia.org/wiki/Local_time_(mathematics)
the time based on the meridian through a specific place, as a city, in contrast to that of the time zone within which the place is located; the time in a specific place as compared to that of another place to the east or west. Found on https://www.infoplease.com/dictionary/local-time