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 time    # with no args, command means "show time"
 time arg [...]   # with args, it means "set time"

while (<STDIN>) {
    my ( $cmd, @args ) = split;
...
        $command{default}->();
    }
}

my %command = (
    time => sub {
...
      },
#  ... and so on (updated to remove undeclared array)
);