Scheduled Rules if Mac is Asleep or Off

I had just a quick question. I use Hazel's "Current Time" function to back up some system files once a week or month by copying them to a backup folder. If the Mac is inactive at the time Hazel is supposed to do this, what happens?
For example, the 1st of each month at 1:00pm Hazel goes into Folder X and copies the contents to Folder Y. If the Mac is asleep or shutdown at 1:00pm, will Hazel run this rule when it is up and running next or will it simply not run until the next 1st of the month?
For example, the 1st of each month at 1:00pm Hazel goes into Folder X and copies the contents to Folder Y. If the Mac is asleep or shutdown at 1:00pm, will Hazel run this rule when it is up and running next or will it simply not run until the next 1st of the month?