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1.
Basically when anything mildly or brilliantly funny happens when you're with your university friends.

Can/ should be preceded with the acronym 'LOL'.
When friend #1 is waiting to give friend #2 a lift to a pub quiz.

Friend #1: "I'm outside"
Friend #2: "Lol Uni Moments!"
by StephenKing June 15, 2014