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1) Letting loose with a friend or someone who is cool.

2) To chill in someplace cool or with someone cool

illin': tight, awesome
laxin': to be relieved from tension or strain
Person 1: So, what are you up to tonight?
Person 2: I don't know. I might illax with _____


Person 1: What've you been doing all summer?
Person 2: Nothing much... just illaxin' and stuff.
by The Chow Man October 21, 2004
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