<?php
if(!function_exists('FoundationPress_entry_meta')) :
    function FoundationPress_entry_meta() {
        echo '<time class="updated" datetime="'. get_the_time('c') .'">'. sprintf(__('Posted on %s at %s.', 'FoundationPress'), get_the_date(), get_the_time()) .'</time>';
        echo '<p class="byline author">'. __('Written by', 'FoundationPress') .' <a href="'. get_author_posts_url(get_the_author_meta('ID')) .'" rel="author" class="fn">'. get_the_author() .'</a></p>';
    }
endif;
?>

<?php
if(!function_exists('FoundationPress_entry_meta')) :
    function FoundationPress_entry_meta() {
        echo '<time class="updated" datetime="'. get_the_time('c') .'">'. sprintf(__('Posted on %s at %s.', 'FoundationPress'), get_the_time('l, F jS, Y'), get_the_time()) .'</time>';
        echo '<p class="byline author">'. __('Written by', 'FoundationPress') .' <a href="'. get_author_posts_url(get_the_author_meta('ID')) .'" rel="author" class="fn">'. get_the_author() .'</a></p>';
    }
endif;
?>
--- 
+++ 
@@ -1,7 +1,7 @@
 <?php
 if(!function_exists('FoundationPress_entry_meta')) :
     function FoundationPress_entry_meta() {
-        echo '<time class="updated" datetime="'. get_the_time('c') .'">'. sprintf(__('Posted on %s at %s.', 'FoundationPress'), get_the_time('l, F jS, Y'), get_the_time()) .'</time>';
+        echo '<time class="updated" datetime="'. get_the_time('c') .'">'. sprintf(__('Posted on %s at %s.', 'FoundationPress'), get_the_date(), get_the_time()) .'</time>';
         echo '<p class="byline author">'. __('Written by', 'FoundationPress') .' <a href="'. get_author_posts_url(get_the_author_meta('ID')) .'" rel="author" class="fn">'. get_the_author() .'</a></p>';
     }
 endif;
Format time and date according to WordPress settings.

Removed the hardcoded time formatting, to make the theme honor the time and date settings set in the WordPress Admin