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1.
Another rendition of "that's my word" meaning "I'm serious" or "that's the truth" or even "that's a fact". Essentially, you're trying to get across that you really mean what it is you've just said.
Dude#1: Yo, I had a menage last night with those two girls from the club!!!

Dude#2: Say word?

Dude#1: That's word!!!

by Honcho April 25, 2006
 
2.
That's cool; I understand.
"Sorry, I can't hook that up for you."
"Thats word."
by LadyRed September 13, 2006