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To take s school report from your mailbox before your parents have seen it and destroy it.
John: "Hey Reg, How'd it go when your parents saw your report card?"

Reg: "Oh they never saw it, I intercepted."
von Reginald 3. März 2004
to yank someone's dick with your hand
dude did you just see her intercept him!!!!
von bofskbosfjb 13. April 2010