To ejaculate when you just can't hold it in anymore. To allow sperm to flow from the penis at a great speed and pressure. Often done to avoid long term damage to the testicle region.
"Hey man you look awful pale. You sure your feeling ok?". "Yeh I'll be fine once I release the jip"
or
"Jesus did you see the state of her face!" "no" "looks like someone just released the jip all over her"