a way to sign off online or conclude an lj post, if you are scene/ think you are funny
lilbeebop: sweet! call me this weekend, laterade!
A way to tell someone to chill out, and be patient.
" I'm hungry, I want to eat a whole extra,extra large pizza, now! please mommy!" "Boy, you betta drink some laterade, and stop trippin' out! You know we broke today...sheeeeaaat!"