The Collaborative International Dictionary of English v.0.48:

Drip \Drip\, n.
   1. A falling or letting fall in drops; a dripping; that which
      drips, or falls in drops.
      [1913 Webster]

            The light drip of the suspended oar.  --Byron.
      [1913 Webster]

   2. (Arch.) That part of a cornice, sill course, or other
      horizontal member, which projects beyond the rest, and is
      of such section as to throw off the rain water.
      [1913 Webster]

   Right of drip (Law), an easement or servitude by which a
      man has the right to have the water flowing from his house
      fall on the land of his neighbor.
      [1913 Webster]