When a transient overcurrent event occurs, the current through the LED will be higher than the maximum rated current in the LED technical data sheet, which may be directly generated by high current or indirectly generated by high voltage.
These events are transient, which means that they only last for a very short time when they occur, usually no more than one second.
Sometimes they are also called "spikes", such as "current spikes" or "voltage spikes." If an over-current event occurs immediately when the LED is powered on or plugged into an energized power source (also known as "plug and unplug"), this over-current event is called "surge current."