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1. When you say goodbye to your mom.
2. Say to friends or random people disregarding the first definition, another form of goodbye to make fun of your n00b of a mom.
Son or Daughter: Aiight, i'm out mom
Mom: Bye, have fun
Son or Daughter: Laters mom

-or-

Son or Daughter: I'm going now dude
Friend: Aiight, laters
Son or Daughter: Yeah, laters mom
Friend: LOL
by Aaron Culbert March 29, 2008
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