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Default Can I use the NOW() function in a formula?

I have a cell B1 that has NOW() time and another cell B2 that has NOW() date.
I am trying to have data from another cell F1 brought in to the destination
cell B3,
when a given date and time occur.
=(IF(AND(B1="23:00:00",B2="12/03/2009"),F1," ")
This formulas does not work.
The Clock is continuously active / always changing.
Any suggestions would be appreciated. Thanks.

 
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