/hob"nob'/ , v. , hobnobbed, hobnobbing , n.
v.i.
1. to associate on very friendly terms (usually fol. by with ): She often hobnobs with royalty.
2. Archaic. to drink together.
n.
3. a friendly, informal chat.
[ 1595-1605; from the phrase hab or nab lit., have or have not, OE habban to have + nabban not to have ( ne not + habban to have) ]