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It seems like this song is about a couple who has broken up, and the guy is "bowing out gracefully" (Harboring no hard feelings) yet reminding her that "he'll be there" is she ever needs support in the future.
It seems like this song is about a couple who has broken up, and the guy is "bowing out gracefully" (Harboring no hard feelings) yet reminding her that "he'll be there" is she ever needs support in the future.