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A person who experiences emotions of both positive and negative valence (or indifference) toward another, yet engages in frequent contact with the other due to conditions of common acquaintance, convenience, and/or loneliness.
Girl: Oh, is Jon your friend?

Guy: Kind of... we are not really that close, but he always hangs out with my friend, Paul. I guess we are "friendbivalent."
by Dangold April 19, 2009
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