1. An establishing of dominance over a situation at a predetermined time.
2. A situation in which ownage is occuring.
1. "If she comes back up here talking shit, it's ownage time"
2. Guy 1: "That guy is chugging two beers and smoking a cigarette at the same time!"
Guy 2: "That's ownage time!"
Similar in spirit to 'waste of time','faced of time' refers to the time that one wastes electronically 'socializing' rather than socializing in person.
A: Hey, wanna walk over to the bar and grab a beer? I hear there's a good band playing.
B: (Sitting at computer in underwear, eating ramen) No thanks. I really, really should catch up on my Facebook stuff. Oh wow! Look! Someone sent me a special heart! AND a fuzzy bear! tee-hee.....
A: Uggghhh, you're such a social retard! What a 'faced of time'!
The sky was dark, the moon was high All alone, just her and I
Her hair so soft, her legs so fine
I ran my fingers down her spine
I don't know how, I tried my best
I started placing my hands on her breasts
When I did it, I felt no shame
And all at once the white stuff came
At last I was finished, it's all over now
My first time ever,
At milking a COW !
I bet when you read this you thought I was going to make it a first time sex story. It's cute though huh?