A blowjob in which the giver reaches down between the receivers legs and eases the seat back.
Receiver: "Hey baby, I want a Panama Style Blowjob."
Giver: reaches down between his legs and eases the seat back.
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Cosby'd :To lose consciousness via the use of drugs and alcohol. This may be with or without the consent of the user. As it's the state itself that is being defined.
Man 1: "Hey, check out this passed out chick on the couch, she Cosby'd out."