actually, this expression is used when one individual is acting really gay, so you say take it out, meaning, the cock in your mouth.
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Following casual buttsex, it is important to remember to remove the cock from your anus, hereby "Taking It Out."
"Wow, that buttsex was great, i mean, that load was huge...." Take It Out
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When people decide to use Twitter to express any anxiety, disgust, or over powering emotions in a series of spaced out Tweets.
John: "Hey did you see Stephanie's tweets yesterday about how bad her mother pissed her off?"
Sally: "Ya! She was definitely taking it out on Twitter."
To eleminate someone. To kill him. To remove someone from a situation.
"Osama bin Laden is a menace. We will take him out." President George W Bush.
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When somebody says this to you, it means they're asking you out. They want to "take you out" on a date. Usually it also means that they'll pay for your meal.
"Hey shawty let me take you out tonight."
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Usually means that they are inviting you to a date, but if said by a Serbian usually means they plan to assassinate you.
"I'm gonna take you out tonight"
*pulls out stolen bulgarian gun*
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Accept sexual favors in exchange for something
This is most often used in regard to a favor: one party does something requiring time and/or effort for the other, and when asked how much it will be, says, "I'll take it out in trade". Or vice versa: having done something for another person, asking for compensation, and the other says, "You can take it out in trade."
"In trade" sounds like a form of prostitution (exchanging sex for something else), but it usually used humorously and in context of an existing relationship. The meaning is that the person is doing it as part of the relationship rather than expecting to be paid money or goods or whatever.
Girlfriend: Thanks for doing my taxes, honey. How much do I owe you.
Boyfriend (leering): Nothing. I'll take it out in trade.
He means that he expects some kissing and/or loving in return.
Girlfriend: How's that?
Boyfriend (looking at his hair in mirror): Wow! I look great!
GF: So what do I get in return?
BF: You can take it out in trade.
Meaning he'll be extra loving for a while and/or that she gets to choose the position/method next time they make love.
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