Meaning

• A short break in the action of a sport, for substitution, consultation, etc.

  "We're being beaten! We need a time-out!"

• A break from a tense, heated or stressful situation (often enforced, sometimes as a disciplinary measure); a cooling-off period.

  "Hitting people is not acceptable! Go to your room and take a time-out!"

• (communication) The intentional ending of an incomplete task after a time limit considered long enough for it to end normally.