Source : Free On-Line Dictionary of Computing

netlag
     
         A condition that occurs when the delays in the
        {IRC} network, a {MUD} connection, a {telnet} connection, or
        any other networked interactive system, become severe enough
        that servers briefly lose and then reestablish contact,
        causing messages to be delivered in bursts, often with delays
        of up to a minute.  (Note that this term has nothing to do
        with mainstream "jet lag").
     
        [{Jargon File}]
     
        (1996-06-21)