Damn it. Wait. Wait, what does that mean exactly?

Frank The Tank (Will Ferrell)

7 seconds sound clip from the Old School movie soundboard.

You can hear this line at 01:12:02 in the Blu-ray version of the movie.

Quote context

[...]

- Hey. Just take care of it.

- Gentlemen, I got some good news and I got some bad news.

- Did a little research. What Pritchard did, technically, is illegal.

- We have the right to a formal evaluation before they can deny our official application.

- However, we're now subject to a charter certification review given by the board of trustees.

- Damn it. Wait. Wait, what does that mean exactly?

- According to university bylaws, it's a thorough inspection of the fraternity, and our contribution to the community.

- Focus is on five categories: Academics, athletics, community service, debate, and school spirit.

- Good luck to everybody. It was nice to know you all. And I'll see you around campus.

- Actually, all of us are being tested. Yeah.

[...]