I am wondering how adding a delay and changing the hysteresis value for an alarm block effects the behavior of the alarms.  For example, if you have a signal that is normally around 50, the LO_LIM is 45, the LO_DELAY_ON is 2 seconds, and the hysteresis setting (I know there are differences with conditional alarms) results in a hysteresis value of +2 (or 47), then when would the signal shown in the following chart trigger the LO alarm, if at all?

The way that I am understanding things, if hysteresis IS considered with the delay, then the above signal WOULD trigger the LO alarm.  However, if hysteresis IS NOT considered with the delay, the LO alarm WOULD NOT trigger.

What is the correct understanding?