Elecme, I believe that the question revolves around the overtravel inherent in an induction disk relay. If you are using an induction disk undervoltage relay, where the time delay is provided by the movement of the disk, there is a degree of overtravel due to disk inertia when the initiating condition (undervoltage) is removed. This overtravel would tend towards timer inaccuracy. Also, resetting the disk takes a variable time depending on how far the disk has travelled - this provides an integrating action for sequential events within the reset time.
The situation is not the same when you use an instantaneous relay with on/off action and a definite delay timer, as there is no overtravel and instantaneous reset of the timer.
Of course, this only applies with electromechanical relays.