Augie, are you saying that 4'' is what distance you need from the terminal measured to the back of the meter can?
312.6(A)Note: Bending space at terminals shall be measured in a straight line from the end of the lug or wire connector (in the direction that the wire leaves the terminal) to the wall, barrier, or obstruction.
(B) Wire-Bending Space at Terminals. Wire-bending space at each terminal shall be provided in accordance with 312.6(B)(1) or (B)(2).
(1) Conductors Not Entering or Leaving Opposite Wall. Table 312.6(A) shall apply where the conductor does not enter or leave the enclosure through the wall opposite its terminal.
(2) Conductors Entering or Leaving Opposite Wall. Table 312.6(B) shall apply where the conductor does enter or leave the enclosure through the wall opposite its terminal.
This Article is not very clear in my opinion, it is hard to understand. So in the example as posted, Kwired; you believe that Table 312.6 (a) applies in this case? 4/0 AL SE cable terminated on the load side in the meter can (lay in terminals) and immediately turns down at a 90 degree angle and exits out the back of the meter can, that 4'' measured along the length of the conductor or a depth of 4'' measured from the terminal to the back of the meter can where the conductor exits or leaves.