Top Definition
A back-pack or duffel, usually of rugged and lightweight construction, containing essential survival gear and rations. Usually, a panic bag is pre-packed and stored in a convenient location that is easily accessible.
In the event of major catastrophe, it is good to have a panic bag ready to go:
"grab your panic bag, lets go"
ayon kay BearG ika-31 ng Disyembre, 2011

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