During the forty days that Moshe Rabbeinu was on Har Sinai to receive the Torah, he didn't eat, drink, or sleep. The Midrash (Shemos Rabbah 47:7) writes, "How do we know that Moshe didn't sleep during these days? We can compare it to a king who said to a person whom he loved, 'Measure gold coins and take them for yourself.'" We can be certain that he didn't want to eat or sleep. He only wanted to measure as many coins as he could. "Similarly, Moshe was 'measuring' Torah and forgot to eat and drink. When he wanted to sleep, he said, 'If I sleep, I will lose out.'"
The Sfas Emes (5634) quotes this Midrash and explains that this is the reason Chazal (Succah 53.) tells us, "When we were in the Beis HaMikdash, celebrating the Simchas Beis HaShoeivah, we didn't fall asleep." All those participating in the simchah didn't want to sleep because they knew that while sleeping, they would miss out.
The Beis Yisrael zt'l would often repeat this vort from the Sfas Emes and explain that when it is Yom Tov, we must take advantage of the time. We should feel and remember how precious every moment is and not waste it. If we waste time, we lose.
Reb Yechezkel of Kuzmir zt'l found a hint from hilchos succah (see Shulchan Aruch 632:1-2) to show the severity of wasting time. A succah could become pasul when part of the roof is covered with non-kosher schach. Another way the succah can become pasul is when there is an open space in the schach. When there is a space empty of schach, the halachah is more stringent because the succah becomes pasul with a space of just three tefachim. In contrast, when there is pasul schach mixed into the kosher schach, the succah becomes pasul only when there is four tefachim of it. This indicates that an empty space, which connotes idleness and nothingness, is the worst situation.
Shem MiShmuel (Shabbos Chol HaMoed Pesach 5673) writes, "Every moment of the holiday one should prepare himself to accept the holiness that is coming down non-stop." This applies to the days of Chol Hamoed, as well. We should try to utilize our time wisely.
The Mishnah (Avos 3:11) states, את המבזה ...המועדות לו אין טובים ומעשים תורה בידו שיש פי על אף הבא לעולם חלק , "Someone who disgraces the yomim tovim... even if he knows Torah and he has performed good deeds, he doesn't have a portion in Olam HaBa." It is hard to write these words, but we must know the importance and the obligation to honor the yomim tovim. As we quoted, the words of the Mishnah are - המועדות את המבזה. Rabbeinu Yonah says that מועדות refers to Chol Hamoed. He explains that if the Mishnah was speaking about yom tov, it would have stated המחלל המועדות , someone who transgresses the yomim tovim. Rabbeinu Yonah adds, "The Mishnah doesn't need to discuss yom tov because yom tov is like Shabbos [and everyone understands that we must honor the yom tov]. Rather, it refers to Chol Hamoed. [How does one disgrace the Chol Hamoed?] By saying that it doesn’t have kedushah like the first days."
