In Enterprise Agility, Time of Performance is a state of flow where people or teams have the resources and environment to focus deeply on the emerging situation.
During the Time of Performance, people can regulate their attention and enter a state of psychological flow. This state of flow unlocks the potential for exceptional problem-solving, rapid productivity, boundless creativity, and innovation, all while promoting overall wellbeing.
For more detailed information about them, check Enterprise Agility Fundamentals, Chapter 2, page 105.