
Vertical Interval Time Code. A time code signal that is written in the vertical interval by the rotating video heads, allowing it to be read when the tape is not moving. Requires special equipment to read and write.
Found on
http://www.filmland.com/glossary/Dictionary.html#A

Vertical Interval Time Code; a time code usually found on lines 19 to 21 of the blanking lines; highly suitable for subtitle preparation on a VCR because it remains accurate with slow motion and stills.
Found on
http://www.transedit.se/glossary.htm
No exact match found.