time in
Used in sports as a referee's call to resume play after a timeout. Wasei-eigo from English 'no time'.
wasei-eigo (Japanese-coined English), from no time
The referee shouted 'No time!' and the game resumed.
making a move immediately
In timed board games like shogi or go, refers to playing a move without using any thinking time. Often used as a noun or adverbially.
彼はノータイムで次の手を指した。
He made his next move immediately, without taking any time.
ノータイムの連続で相手を圧倒した。
He overwhelmed his opponent with a series of instant moves.
Variant with a middle dot; less common but seen in some contexts.
Wasei-eigo from English 'no time'. The sports sense is a direct borrowing of the referee's call; the board game sense extends the idea of 'no time used' to describe an immediate move.