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Equivalent to "It's all good."
Darnell: Sorry, man.
Darnell's Friend: Don't worry, I'm keepin' lace.
Equivalent to "it's all good."; Everything is cool
-Whattup son?
-Well my girl just left me, but you know I'm keepin' lace cuz there's a shorty ova there trynna holla at me.