Reset
A Reset refers to one full round of play on one server. It is the period of time, and the sum of events that take place on the server, in between all the players creating a mage (Reincarnate) and the occurrence of Armageddon at the end of the reset.
The term "reset" stems from the deletion of all mages at the end of Armageddon and the notion of the server 'starting over' and the game environment resetting. There is typically a few days' server downtime in between two resets, i.e. the end of Armageddon and the beginning of the new round. At the moment of this writing, each reset runs for 2 months.