The term 'BIT OF TIME' can be broken down into three separate words: TICK (4 letters), SEC (3 letters), and SPELL (5 letters). A TICK is a very short period of time, usually less than a SECOND. The word 'SEC' is an abbreviation for the word 'SECOND', which is a unit of time equal to one sixtieth of a minute. Finally, the word 'SPELL' can refer to a period of time, such as a SPELL of bad weather. Therefore, the term 'BIT OF TIME' can be interpreted as a very short period of time, such as a few seconds or a minute.