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Basically telling a person to chill out if they are freaking out over some issue.

Literally, it is something you would to say to someone to get them to loosen up a little.
Kevin: I can't believe they did not complete the presentation in time. Jeez! I hope they all burn.

Luca: Dude, have a drink. It's not that big of a deal.
by JackofallJills July 19, 2013
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