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1.
To have something covered. To take care of business. To have everything under wraps.

Complete.

No need for alarm.
"You need help moving? Your dad needs a kidney? Your girlfriend needs to be picked up at the airport? I got all this, bro. Comp the bar!"

"Hey, buddy. I didn't mean to spill that beer on you. It's all good. Comp the bar, man... comp the bar."

After getting laid: "Comp the bar!"
by Captain Governor December 16, 2011