commonly used as an excuse, a period wherein an individual is restrained from participating in a particular conversation/recreation due to the time being occupied by the infamous "bebe".

Briefly, "the realization that each random passerby is living a life as vivid and complex as your own." Originally from the Dictionary of Obscure Sorrows, which has a lot more beautiful neologism definitions like this you might enjoy.

It means that it's a time which a couple of person will have a sexual intercourse. This word phrase is common in the Philippines.