Land Immediately VS Land ASAP  

Land Immediately means you have NO Choice of landing spot, you're landing HERE.

Land As Soon As Possible means you have SOME choice of the landing spot, but I wouldn't advise you push that flexibility.

As was already said, if the engine quits you're landing in the water or trees, i.e., you have NO choice in that.  If you have an engine chip light, you can keep flying to the first safe spot to land, and not put the aircraft down in the water or trees.

So, unlike you comment, there is a definate distinction between the two.

Anyone else remember the two AH-64 guys who got a chip light and chose to land NOW.  Completed a normal shut down and everything before they were taken captive!  THey didn't understand that distinction.  I worked with a guy in the past who had an engine chip light and decided he'd just fly the aircraft back to the airport.  Hell, it was only 10 minutes away.  He lost the engine and rolled the aircraft over on landing.  "What the f, he'd done the same thing plenty of times and the engine had never quit befroe!"  He didn't understand the distinction either!