Subparameter definition

minutes: Specifies the maximum number of minutes a job may use the processor. Minutes must be a number from 0 through 357912 (248.55 days).
Do not code TIME=0 on a JOB statement. The results are unpredictable.
seconds: Specifies the maximum number of seconds that a job may use the processor, in addition to any minutes that you specify. Seconds must be a number from 0 through 59.
1440 or NOLIMIT: Indicates that the job can use the processor for an unlimited amount of time. ("1440" literally means "24 hours.")
Also code TIME=1440 or TIME=NOLIMIT to specify that the system is to allow any of the job's steps to remain in a continuous wait state for more than the installation time limit, which is established through SMF. "Continuous wait time" is defined as time spent waiting while the application program is in control. For example, the time required to recall a data set from HSM Migration Levels 1 or 2 and/or the time required to mount a tape is counted towards the job's continuous wait time if the allocation of the data set was dynamic (that is, issued while the program was running) while the time required for those activities will not be counted towards the job's continuous wait time if the allocation was static (that is, for a DD statement).
MAXIMUM: Indicates that the job can use the processor for the maximum amount of time. Coding TIME=MAXIMUM allows a job to run for 357912 minutes.