is like "while", and is more like "the (very) moment~" "just as~". You'll see it in (set?) phrases like most of the time, at least in modern Japanese. You wouldn't rephrase them as , , etc. (These would make sense, but the nuance may be a bit different). You would say but not etc. I think the verb before should probably be a momentary action.
(By the way, is a set phrase meaning "(do an action) in a row.")