When you try to wank to something hot but something unsexy like meatspin or Rosie O'Donnell pops up or somebody walks in on you, and it goes limp but you're not satisfied so you have to wank all over again.

a phrase chiefly used in northern England.

it is a contracted form of "it'll be reet", where "reet" means "alright" or "OK".

living your life according to "be reet" is the only way to find happiness in life.

When you are wanking or banging and your dick goes limp then you do somthing to make it big again.