Stands for a "Kill of Opportunity."
Could be a noun describing the target, or a verb describing how to kill the target.
When both Sadam Hussein and Usama Bin Laden arrive for the exchange, sniper teams 1 and 2 will take both targets out. Consider any other armed associates at the scene a KO.
We can't risk him getting captured. I don't want to go to jail while he goes free just because that child-raping pos cried police brutality. No, if any of us get a clean shot, we KO his ass! Understood?
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