Events propagate at the speed of light - this is what causes time dilation, if I understand correctly... I'll draw an example from an old class of mine.
Let's say you are flying along in outer space, at some extremely high speed, .99(c) or something like that. There is a wall beside you, which is very long, such that you can fly beside it for a very long time. You use a photon emitter to emit single photons at the wall, and they bounce back and strike a photosensor that detects their arrival. You have seperated yourself from the wall by one light second of distance, so the photon you emit takes two seconds to return to the photosensor, one second there, one second back.
So it looks like this:
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|
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->
Where the arrow is you, traveling at .99(c) to the right relative to the wall, the horizontal line is the wall, and the vertical line is the path of the photon. The photon is traveling 2 light seconds worth of distance every time.
Now let's look at you from the standpoint of the wall.
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/\
/ \
/ \
-> ->
Since an observer from the wall's frame of reference sees you as moving at .99(c), it also sees the photon as taking an angled path towards the wall. My slashes here aren't 45 degrees, so just imagine that they are, since your speed is close enough to the speed of light that the photon you emit is moving in the same direction as you almost as fast as it's moving towards/away from the wall.
From the wall's frame of reference, the photon traverses a longer path and therefore takes longer to get where it is going - instead of 2 light seconds of distance, it traverses 2*(root 2) = root 8 = ~2.8 light seconds. Hence, time seems to go more slowly for you than for the wall, from the wall's point of view - no event can travel faster than light.
In this way, time is a function of the propagation of light in GR.
THEN, we have the propagation of light. If light has a speed, it must be governed by a time of its own, above and beyond the time which it governs. Hence, there are two kinds of time.