Chaps on top of a university deadline (4,5)
I believe the answer is:
time limit
'deadline' is the definition.
(I've seen this in another clue)
'chaps on top of a university' is the wordplay.
I cannot really see how this works, but
'university' could be 'mit' (Massachusetts Institute of Technology) and 'mit' is located in the answer.
This may be the basis of the clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for time limit that I've seen before include "Deadline" , "maximum duration" , "within which task must be done" , "Point before which something must be achieved" , "Prescribed term" .)