Execute a command from a variable?

Hi,
Is it possible to execute a command assigned in a variable?

So if I declare the following;
TIME=`date +%H%M`

it will assign the output of the command run at the time the variable is read in.

But I want to be able to execute the command via the variable at multiple times throughout a script;

e.g. "echo $TIME >> /tmp/logfile" to get the latest time

Probably a very easy solution but I'm head scratching.....

Don't use back ticks. Use single or double quotes.
And remove the "echo" command.

TIME="date +%H%M"
$TIME >> /tmp/logfile

Brainfog today!

...so much for no such thing as a stupid question.... :o

Thanks Ken