1. Charged or energized with electricity: Be careful and don't touch that live wire.
2. Not imaginary, but actually existing and done in front of an audience; such as a play, a concert, etc. which is performed in front of people: The play had live music which made the drama more interesting.

The TV program provided live coverage of the political debate.

People thought the soldiers were using harmless blanks; however, they were shooting live bullets.

During, from, or at the actual time when something happens; such as, a performance, an event, etc.: The students are listening to the live playing of music that is being performed by a trio of musicians in the school auditorium.

There was a live recording of final piano recital of Lynn’s mother during the performance.