The hold-time value is the amount of time the candidate RP advertisement is valid. When you configure the RP-candidate hold time, you set the hold time of the component when it is a candidate RP in the local domain. The mode must already be set to sparse.
SEFOS(config)# interface vlan 7 SEFOS(config-if)# ipv6 pim componentId 1 SEFOS(config-if)# end
SEFOS(config)# ip pim component 1
SEFOS(pim-comp)# rp-candidate holdtime 30 SEFOS(pim-comp)# end
SEFOS# show ipv6 pim component 1 PIM Component Information --------------------------- Component-Id: 1 PIM Mode: sparse, PIM Version: 2 Elected BSR: :: Candidate RP Holdtime: 30