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cockney rhyming slang for not on your life. nelly rhymes with smelly, which leads to smelly breath, breath leads to breathing to keep alive, leading to not on your life.
Martin: 'will you stroke my furry badger?'

Jon: 'Not on your nelly!'
by MsMatronic July 17, 2005
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Apr 15 Word of the Day
to take an unfortunate loss and turn of events.
"last night took an L, but tonight I bounce back" - Big Sean (2017)
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by urbansammy January 20, 2017
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