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The term salam comprises the concepts of spiritual soundness and peace, freedom from faults and evils of any kind, and inner contentment. As I have pointed out in note [29] on 5:16 (where this term has been rendered, in a different context, as "salvation"), its closest - though by no means perfect - equivalent would be the French salut, in the abstract sense of that word, or the German Heil.
I.e., always. It is to be noted that the term rizq ("sustenance") applies to all that might be of benefit to a living being, spiritually as well as physically.
There is no day or night in Paradise, only light. The verse says that the residents of Paradise will either be receiving provisions around these worldly times or without failure. Words such as morning and evening are used to make it easier for the people to understand.
Salam, translated "Peace", has a much wider signification. It includes (1) a sense of security and permanence, which is unknown in this life; (2) soundness, freedom from defects, perfection as in the word salim; (3) preservation, salvation, deliverance, as in the word sallama, (4) salutation, accord with those around us; (5) resignation, in the sense that we are satisfied and not discontented; besides (6) the ordinary meaning of Peace, i.e., freedom from any jarring element. All these shades of meaning are implied in the word Islam.
Rizq: literally sustenance or means of subsistence, the term covers all the means of perfect satisfaction of body and soul. Morning and evening, i.e., early and late, all the time, always.