Time out in the bay (6)
I believe the answer is:
recess
This clue is a double definition.
'time out' is the first definition.
(I've seen this before)
'the bay' is the second definition.
(bay can mean a coastal recess)
'in' is the link.
(Other definitions for recess that I've seen before include "Suspension of a session for a rest" , "Break - depression" , "Niche or intermission" , "Temporary suspension of business" , "Pause in business, time out" .)