derivedDataType Time

Represents the international standard for the representation of local time (ISO 8601).
The following pattern describes the Time format:
hh:mm:ss
Where:
hh = Two digits of hour (00 through 23, AM/PM not allowed)
mm = Two digits of minute (00 through 59)
ss = Two digits of second (00 through 59, leap second not allowed)

References from:
BrmCalendarBasedPeriodicEvent; SessionInactivityConfig;
stringTime

Valid values: ^(0[0-9]|1[0-9]|2[0-3]):([0-5][0-9]):([0-5][0-9])$
  derivedDataType Time