In recent years there has been an increasing demand to build "soft" real-time applications on top of asynchronous distributed systems. Designing and implementing such applications is a non-trivial task and application designers are often faced with the need to circumvent impossibility results. In this paper we discuss how to ensure that actions are executed in the correct order even in the face of failures. We propose a novel time base and a new synchronization mechanism for the design of distributed "soft" real-time applications. We demonstrate (1) how this time base can be used to enforce an externally consistent ordering, and (2) how it permits to circumvent impossibility results by sketching how to solve the leader election and perfect failure detection problem.