The crossword solution for the term 'NIP' is a verb meaning to pinch or squeeze. It is often used in the phrase 'NIP and tuck', which is used to describe a situation where two people or teams are very close in terms of performance or score. The phrase is also used to describe a situation where two people or teams are competing very closely. In this context, it implies that the competition is so close that even the slightest advantage could make the difference between winning and losing.