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The time allocated to a well earned masturbation session. Remember, this is not frivolous knuckle shuffling, but an important reward for a job well-done.
Mom: Do the washing up!

Jack: But mom, this is my tug time, ffs!
Tug time by Herman Cain's spunk rag November 23, 2011
v: to make a trance/techno song that's top-notch.

a: someone who is very skilled in making digital music.
Man I can't believe you made that song! It's so tiesto!
tiesto by nick March 13, 2003

pizza time 

the precarious situation that occurs when an athlete's time is perceived to be done yet he/she pulls one last trick out of their ass
It's pizza time for Reggie
pizza time by Jack Tripper May 15, 2005

Jerry Time 

A time scale used at Tanah Keeta. The time is set 5 minutes ahead of the rest of the world. Once known as TK time, it was frowned upon and given the new name Jerry Time, named after its creater.
Jerry: Where is everyone, isnt it time to start?
Michael: According to TK time, we still have 5 minutes.
Jerry: TK time? Fuck TK time, its Jerry Time!
Jerry Time by Strudelsnap September 3, 2008

the best rapper of all time 

Eminem is the best rapper of all time

peanut butter jelly time 

A moment when you have the urge to dance to the song "Peanut Butter Jelly Time."