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1.
A term used to describe a party or activity where guests are encouraged to arrive under the influence of LSD. A tab of LSD will often cost around ten dollars, hence the name.

When it is a requirement, security will sometimes check guests' tongues before allowing them in and charge a cover if they do not see a tab.
Guest: "Yo, man, whats the details for Saturday?"

Host: "BYOB, girls get free drinks, BP, no cover, ten dollar admission, starts at 8"
by davidblue November 11, 2013