1. Unprepared, as of ships that are not ready to sail. "To trim," in the nautical sense, means to adjust a ship's balance or sails. No, we can't leave yet, the boat is out of trim!

2. In poor condition, usually physically. I know I need to get back to the gym—I'm really out of trim these days. A: "I checked on the house a few months ago, why?" B: "It's completely out of trim! Paint is peeling, windows are broken, it's a mess!"