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Definition

To call for a suspension of activity or conversation.

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How People Actually Use It

a punishment used by white people when a child misbehaves, in which the child is temporarily forced to remain silent in a single spot. This method is usually ineffective, as opposed to the method used by black people who simply beat the child.

"white man- "I HAVE IT. EVERYBODY GETS A TIME OUT!" black man- "SHUT THE FUCK UP NIGGA BEFORE I BEAT YOUR MONKEY ASS!""

Source: Urban Dictionary