The Collaborative International Dictionary of English v.0.48:

Elapse \E*lapse"\, v. i. [imp. & p. p. Elapsed; p. pr. & vb.
   n. Elapsing.] [L. elapsus, p. p. of elabi to glide away; e
   out + labi to fall, slide. See Lapse.]
   To slip or glide away; to pass away silently, as time; --
   used chiefly in reference to time.
   [1913 Webster]

         Eight days elapsed; at length a pilgrim came. --Hoole.
   [1913 Webster]

WordNet (r) 3.0 (2006):

elapsed
    adj 1: (of time) having passed or slipped by; "elapsed time"