Contrary to popular modern belief, Lit is a term used to describe mildly intoxicated. It was often used by blues and jazz musicians in the 40s, 50s and 60s to describe the "sweet spot" in which someone was drunk enough to be relaxed and play better, without being wasted and suffering from motor skill impairment.
Promoter: He's had 5 drinks, will her be able to play?
Musician: He's just getting lit, it puts him in his zone, all good.
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).
Precedes or follows either a gratuitously disrespectful or honest remark, originated in New York City. Used in similar fashion to "no offense" or "to be honest," interchangeably.
Ya mans is wild buns, respectfully. Respectfully he's washed.
After school, The Modells on Jamaica Ave was active. Respectfully.