n. The lower or under side of a sirloin of beef; the fillet. [ 1913 Webster ]
v. t. 1. To cut away, as the side of an object, so as to leave an overhanging portion. [ 1913 Webster ]
2. to sell goods or services at a price below that of (the competition or a competitor's price). [ PJC ]
3. to weaken the effectiveness of; to undermine or sabotage (an activity). [ PJC ]
4. (Forestry) To cut a notch in one side of (a tree) so as to control the direction in which the tree falls when it is felled. [ PJC ]
p. a. Cut away below. [ Webster 1913 Suppl. ]