The term 'IT MAY BE SHADY' can be solved by the crossword solutions PAST, LANE, and TREE. The term 'PAST' is a noun that refers to a time that has already happened or gone by. 'LANE' is a noun that refers to a narrow road or path, usually between fences or hedges. Lastly, 'TREE' is a noun that refers to a large plant with a trunk, branches, and leaves, typically evergreen. Together, these three words can be interpreted as a metaphor for a shady PAST, a shady LANE, and a shady tree.