Plain English Meaning
The few urgent steps you do straight away from memory when something goes wrong, before reaching for the checklist. They handle the most time-critical part of the emergency so things don't get worse while you take a breath.
Full Definition
The critical first steps a pilot must perform from memory, without reference to a checklist, when an emergency or abnormal condition occurs. These are the actions required to stabilize the aircraft, protect the occupants, or prevent the situation from worsening before there is time to consult written procedures.
Context Anchor
Seen in emergency procedures, especially where a pilot must respond quickly before using the written checklist for the remaining steps.
Derivation
Immediate comes from Latin roots meaning “with nothing in between.” That helps here: these actions are done with no delay or extra step between recognizing the emergency and responding to it.