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LIME stands for "Live In the Moment Everyday." Not just a verb, but a philosophy. Much like the Caribbean meaning of "hanging out" or "hang out", LIME is about enjoying every moment of life whether by yourself or with great people. Its a state of mind and a way of life.
"I hate life."
"Hey, don't think like that. My two greatest life philosophies:
1) Carpe Diem and 2) LIME- Live In the Moment Everday. Follow these, and your life will be fruitful."

"Yo, man, this party is epic"
"Hell yeah, man. We LIMEing it up!"

"Hey man, sorry to hear about losing your job."
"It's all good. Life is good. I never take my blessings for
granted and I always remember to LIME."

"This view is gorgeous."
"Absolutely. LIME it up, honey"
LIME by Derek Michael November 8, 2015
Related Words
Based off the term "Lemon," which means a fanfic that has explicit sexual imagery, "lime" is a toned-down version, sexual without being pornographic.
Sara wrote two versions of that fic - a lemon with a hard-core scene and a lime that left the sex out.
lime by TEFM April 28, 2005
You: Have you ever tried adding lime to your food for a sweet taste?
Me: Fuck you.
lime by WeeklyManner September 7, 2018
Acronym for Living In the Moment Everyday. Its like YOLO or Carpe Diem, but not used by douchebags or nerds.
Guy #1: Yo, this party is dope. You just make out with that girl?
Guy #2: Fuck yeah, bro. Life is great. LIME it up, son!
LIME by Derek Michael December 6, 2015
see 'nang'
dat party was lime.