Time is identified as a product of the Phenomenal Universe, a stage in evolution seen as coming into existence after the evolutionary start of the first life forms and consequentially much later in the process of evolution of the Physical Universe – such a statement is only possible in the prevailing state of Phenomenal Evolution!! Neither Time nor Space are seen as relevant as components of the Physical Universe where the primary components of existence are seen as energy, matter and change, perhaps in that order, and where everything is in existence only in the present. On this basis Time and Space are both seen as concepts arising out of the Phenomenal Universe that in the case of Time enable understanding of the process of change and give meaning to the concepts of Rate of Change and Rate of Evolution. As concepts of the Phenomenal Universe both Time and Space are seen as absolutes with defined units of time being the measure of duration over which Change occurs and where duration relates to the flow of change associated with the modification of the relative positions of the components in the prevailing Condition of Existence.