Used to describe various states of erection. SEP is an acronym for Semi-Erect Penis which indicates a slightly heightened state of arousal, NEP stands for Non-Erect Penis which is completely and utterly flacid and FEP which is Fully-Erect Penis which indicates a maximum state of arousal and erection.
Tom "What do you think of that chick, are you getting a SEP, NEP, FEP?"
Vince "She's giving me a FEP, thats what I think"
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To be tell an utterly pointless, boring and often stupid story.
Tom "Do you remember that one time when I won a cheeseburger and then you went up and got it?"
Vince "Yeah, ok Slappy"
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When two criminal enterprises engage in violent attacks on each other for control of power and the flow of money
Tony Montana: You wana go to war? Wel take you to war!
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