Crossword Genius

Occasion when victory must be obtained quickly? (2,4,2,4)

Ross

I believe the answer is:

no time to lose

I'm a little stuck... Click here to teach me more about this clue!

'victory must be obtained quickly?' is the definition.
I know nothing about this answer so I can't judge whether it can be defined by this definition.

'occasion when' is the wordplay.
I cannot really see how this works, but
'occasion' could be 'time' (I've seen this before) and 'time' is found within the answer.
'when' could be 'e' (I've seen this in other clues) and 'e' is located in the answer.
This explanation may well be incorrect...

Can you help me to learn more?

(Another definition for no time to lose that I've seen is " Phrase said in situations that require immediate and/or fast action".)

I've seen this clue in The Globe and Mail.
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