The Collaborative International Dictionary of English v.0.48:

Present \Pres"ent\, a. [F. pr['e]sent, L. praesens,-entis, that
   is before one, in sight or at hand, p. p. of praeesse to be
   before; prae before + esse to be. See Essence.]
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   1. Being at hand, within reach or call, within certain
      contemplated limits; -- opposed to absent.
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            These things have I spoken unto you, being yet
            present with you.                     --John xiv.
                                                  25.
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   2. Now existing, or in process; begun but not ended; now in
      view, or under consideration; being at this time; not past
      or future; as, the present session of Congress; the
      present state of affairs; the present instance.
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            I'll bring thee to the present business --Shak.
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   3. Not delayed; immediate; instant; coincident. "A present
      recompense." "A present pardon." --Shak.
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            An ambassador . . . desires a present audience.
                                                  --Massinger.
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   4. Ready; quick in emergency; as a present wit. [R.]
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   5. Favorably attentive; propitious. [Archaic]
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            To find a god so present to my prayer. --Dryden.
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   Present tense (Gram.), the tense or form of a verb which
      expresses action or being in the present time; as, I am
      writing, I write, or I do write.
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WordNet (r) 3.0 (2006):

present tense
    n 1: a verb tense that expresses actions or states at the time
         of speaking [syn: present, present tense]