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Lightning Party - When the staff at a facility have a party because the lightning alarm has sounded causing them to close the facility to the public, but since they cannot leave they resort to fun and games until receiving an all clear. They normally still get paid during this time.

A lightning party typically refers to persons working at an aquatic or outdoor facility, such as - and especially lifeguards. These facilities are equipped with lightning alarms, and when it signals that there is lightning in the area the personel close the facility but still continue to work their shifts. Since they have nothing to do they party until an all clear is given, or it´s time to go.
The lightning alarm went off, so the lifeguards are having a lightning party until the system says all clear.
by calidreamin June 11, 2014