What is "to redeem the time"

Redeem \Re*deem"\ (r?*d?m"), v. t. [imp. & p. p. Redeemed. (-d?md"); p. pr. & vb. n. Redeeming.] [F. r['e]dimer, L. redimere; pref. red-, re- re- + emere, emptum, to buy, originally, to take, cf. OIr. em (in comp.), Lith. imti. Cf. Assume, Consume, Exempt, Premium, Prompt, Ransom.]

1. To purchase back; to regain possession of by payment of a stipulated price; to repurchase.

   If a man sell a dwelling house in a walled city, then he may redeem it within a whole year after it is sold.
   --Lev. xxv. 29.

2. Hence, specifically:

   1. (Law) To recall, as an estate, or to regain, as mortgaged property, by paying what may be due by force of the mortgage.

   2. (Com.) To regain by performing the obligation or condition stated; to discharge the obligation mentioned in, as a promissory note, bond, or other evidence of debt; as, to redeem bank notes with coin.

3. To ransom, liberate, or rescue from captivity or bondage, or from any obligation or liability to suffer or to be forfeited, by paying a price or ransom; to ransom; to rescue; to recover; as, to redeem a captive, a pledge, and the like.

   Redeem Israel, O God, out of all his troubles.
   --Ps. xxv. 22.

   The Almighty from the grave Hath me redeemed.
   --Sandys.

4. (Theol.) Hence, to rescue and deliver from the bondage of sin and the penalties of God's violated law.

   Christ hath redeemed us from the curse of the law, being made a curse for us.
   --Gal. iii. 13.

5. To make good by performing fully; to fulfill; as, to redeem one's promises.

   I will redeem all this on Percy's head.
   --Shak.

6. To pay the penalty of; to make amends for; to serve as an equivalent or offset for; to atone for; to compensate; as, to redeem an error.

   Which of ye will be mortal, to redeem Man's mortal crime?
   --Milton.

   It is a chance which does redeem all sorrows.
   --Shak.

   To redeem the time, to make the best use of it.