The time period of time is a period of time of time. If anything, just notice how many times the word "time" is used and you'll remember this word means time. The meaning is a specific type of time, though. This is talking about a season or period of time, not the concept of time itself. That would be 時間 or something.
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.
Why don't we just wait and see until the time is right?
Hurricane season is just around the corner.
It’s just a phase Takeshi is going through. Don’t they say people living in a foreign country usually experience a period of culture shock?