Saint and German have time (7)
I believe the answer is:
sundown
'time' is the definition.
(sundown is a kind of time)
'saint and german have' is the wordplay.
'saint' becomes 's'.
'and german' becomes 'und' ('and' in German).
'have' becomes 'own' (to have something is to own it).
's'+'und'+'own'='SUNDOWN'
(Other definitions for sundown that I've seen before include "When a star declines" , "Sunset" , "Setting time" , "when the day is done" , "End of the day" .)