Party time (8)
I believe the answer is:
occasion
I believe this is a double definition.
'party' is the first definition.
(thesaurus)
'time' is the second definition.
(thesaurus)
(Other definitions for occasion that I've seen before include "Need" , "Time of (maybe special) event" , "Time when an event takes place" , "call" , "Provoke" .)