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Verb: bow out  baw awt
  1. Remove oneself from an obligation
    "He bowed out when he heard how much work was involved";
    - chicken out, back off, pull out, back down
     
  2. Retire gracefully
    "He bowed out when he realized he could no longer handle the demands of the chairmanship";
    - withdraw

Derived forms: bows out, bowed out, bowing out

Type of: retire, withdraw