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stands for "vag time"(sex)
Mike: Hey i gotta go bro.
Jamie: Why man?
Mike: It's v-time man.
Billy: Daaammnnn I gotta get me some of that.
by c0ck r0cka October 20, 2007
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At bar:

John: Where were you bro?
Jim: I just had some quality v-time. I'm back now. Shots on me!
by jimboshrip December 15, 2011
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