Overtime
(1) In a game played with time limits, the time (if any) available after the main time period has been used up is referred to as overtime.
(2) A time system that involves overtime. Common types include Canadian overtime and Japanese byo-yomi. (The BGA uses "overtime" more narrowly, so that it excludes Japanese byo-yomi.) Some other types of overtime are described on the BGA website.
Robert Pauli proposed the following distinction between main time and overtime:
Players are in overtime if their time runs out and the time system in charge grants them a second life.
They are in their first overtime if this happended once, in their second if it happended twice, etc.
Being in byoyomi not necessarily is being in overtime! Under Japanese Timing, for instance, there is no overtime, but certainly byoyomi.
Any time system can be used to manage overtime. A typical combination is Absolute Timing followed by Canadian Timing.