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What does overage mean?

Looking for the meaning or definition of the word overage? Here's what it means.

Adjective
  1. Having an age that is greater than a stipulated minimum.
  2. Too old to be of use in a particular situation.
Noun
  1. A surplus of inventory or capacity or of cash that is greater than the amount in the record of an account.
  2. A state of being more than one ought to be.
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