In memory, the continuous flow of experience is punctuated at meaningful boundaries between one episode and the next. When salient events are separated by increasing amounts of space or time, memory systems can accommodate in two ways. One option is to increase the amount of neural resources devoted to longer event segments. The other is to maintain the same neural resources with sacrificed spatiotemporal resolution. Here we review how the spatial coding system is affected by the segmentation of space by goals and boundaries. We argue that the resolution of the place code is dictated by the amount of space encoded within periods of theta. Thus, the theta cycle is viewed as a 'neural word' that segregates segments of space and its cognitive equivalents (memory, planning). In support of this conclusion, we report that, as rats traverse a linear track, the beginning of a journey is represented at the falling phase of theta whereas the journey's end is represented on the ascending phase. The current location is represented in the temporal context of the past and future event boundaries. These results are discussed in relation to the changes in physiology observed across the longitudinal axis of the hippocampus, with a special consideration for how sequence information could be integrated by downstream 'reader' neurons.