Acronym for Limp Old Penis Erection. In other words, meaning when you see a beautiful woman and then some disgusting obese amazon walks by, getting rid of your erection, as your penis falls, it is a lope.
That chick is hot!<pointing left> She isnt, what a lope. Oh no.
Originated from the lastname of Adam Stanhope. First he was called Stanalope which was a bastardization of Stanhope. Eventually he was just known as lope which is obviously a bastardization of Stanalope. He is known for being leet in the area of counter-strike and life.