Time itself is an endless loop but we as humans have placed timing in quantity in order to keep to time. 
Now the big question is..
WHAT TIME IS LATE?
Imagine,you were invited for an event that was slated to hold by 8am, you arrive there by 8:01am. Are you late for such an event? This is a 'YES' and a 'NO' reply.
There is no late time but there is a late time for a slated time.
Nature obeys timing too. Thought most times some natural occurences happen earlier or late it doesn't mean that they will never occur.
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