Lots and lots of songs with those words, such as: "...the time is now to fulfill each vow, for I may never pass this way again." But, given the context, are you sure it wasn't, "now is the time" as in "Bury the rag deep in your face. Now is the time for your tears"? Just a guess. It could very well have been a snatch of a song he was in the process of writing.