Gulf

1. A hollow place in the earth; an abyss; a deep chasm or basin.
2. That which swallows; the gullet.
3. That which swallows irretrievably; a whirlpool; a sucking eddy.
4. A portion of an ocean or sea extending into the land; a partially landlocked sea

   the Gulf of Mexico    the Persian Gulf

5. A large deposit of ore in a lode.
6. A difference, especially a large difference, between groups.
7. (Oxbridge slang) The bottom part of a list of those awarded a degree, for those who have only just passed.

verb

(Oxbridge slang) To award a degree to somebody who has only just passed sufficiently.