un·der·cut

[v. uhn-der-kuht, uhn-der-kuht; n., adj., uhn-der-kuht] verb, un·der·cut, un·der·cut·ting, noun, adjective
verb (used with object)
1.
to cut under or beneath.
2.
to cut away material from so as to leave a portion overhanging, as in carving or sculpture.
3.
to offer goods or services at a lower price or rate than (a competing price or rate) or than that of (a competitor).
4.
to weaken or destroy the impact or effectiveness of; undermine.
5.
Golf. to hit (the ball) so as to cause a backspin.
6.
Tennis. to slice (the ball) using an underhand motion.
7.
to cut (a sound recording) with grooves too shallow or with insufficient lateral motion of the stylus.
8.
Forestry. to cut a notch in (a tree) in order to control the direction in which the tree is to fall.
verb (used without object)
9.
to undercut material, a competitor, a ball, etc.
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noun
10.
a cut or a cutting away underneath.
11.
a notch cut in a tree to determine the direction in which the tree is to fall and to prevent splitting.
12.
Golf. a backspin.
13.
Tennis. a slice or cut made with an underhand motion.
14.
Chiefly British. a tenderloin of beef including the fillet.
15.
Dentistry. a tooth cavity prepared with a wide base for anchoring a filling securely.
adjective
16.
having or resulting from an undercut.
Origin:
1350–1400; Middle English undercutten to cut down; see under-, cut

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
Cite This Source Link To undercut
Collins
World English Dictionary
undercut
 
—vb , -cuts, -cutting, -cut
1.  to charge less than (a competitor) in order to obtain trade
2.  to cut away the under part of (something)
3.  sport to hit (a ball) in such a way as to impart backspin
 
—n
4.  the act or an instance of cutting underneath
5.  a part that is cut away underneath
6.  a tenderloin of beef, including the fillet
7.  chiefly (US), (Canadian) forestry a notch cut in a tree trunk, to ensure a clean break in felling
8.  sport a stroke that imparts backspin to the ball

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Etymonline
Word Origin & History

undercut
1382, "to cut down or off," from under + cut (v.). In the commercial sense of "to sell at lower prices" (or work at lower wages) it is first attested 1884. Fig. sense of "render unstable, undermine" is recorded from 1955, from earlier lit. meaning
"cut so as to leave the upper portion larger than the lower" (1874).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
But any satisfaction he felt was undercut by the implications of the discovery.
Instead, his belated embrace of moderate sanctions was seen as a brilliant
  stroke that undercut his critics.
Businesses could pore over them item-by-item in an effort to undercut
  established contractors.
Furthermore, if he were to recognize it publicly, it would undercut his status
  as a media genius.
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