Having not seen each other for years, they raised their glasses and agreed to drink till they were thoroughly drunk.
Tips
usage
A celebratory phrase used at reunions, farewells, or victories — 方休 means 'only then stop,' so the literal sense is 'we don't stop until we're drunk.' Common in toasts.
memory
Break it as 一醉 (one [round of getting] drunk) + 方休 (then [we] rest). The 方 here is classical 'only then,' not the modern 'square/direction' meaning.