Making Objects based on timer

//Simple Instantiation of a Prefab at Start
var thePrefab : GameObject;
var myTimer : float = 5.0;



function Update () {
 if(myTimer > 0){
  myTimer -= Time.deltaTime;
 }
 if(myTimer <= 0){
  var instance : GameObject = Instantiate(thePrefab, transform.position, transform.rotation);
 myTimer = 5.0;
 }
}