Chill Time is the name given to time difference between when one noticed a new friend request on Facebook to when one actually accepts it. This is a new phenomenon because of how mobile devices can alert you any time any where of a new request. Depending on the person, chill time may last anywhere from an hour, to several days.
"Dude, I totally just got a friend request from Amber."
"did you accept it?"
"Nah dude, I'm gonna give it a little chill time. Say maybe a couple of hours."