it's time to pinch off a harvest from any stem that has more than 1 or 2 pairs of leaves... the stem will then branch out, and you'll have more leaves to harvest!
I've been pinching back my herbs and either using them fresh or freezing them (minced in food processor with olive oil, they freeze well in ice cube trays) all summer... last month, I stopped pinching half the plants so they'd have a chance to make seed before fall.
marinara sauce with fresh basil... yummy!