overage
IPA: ˈoʊvɝɪdʒ
noun
- A surplus of inventory or capacity or of cash that is greater than the amount in the record of an account.
- A state of being more than one ought to be.
- (property law) Any additional sums payable following the purchase of land, calculated on a prearranged basis, on the occurrence of certain specified events that are deemed to increase the value of that land; usually in the context of the development and further sale of that land.
verb
- To have too long an aging process.
adjective
- Having an age that is greater than a stipulated minimum.
- Too old to be of use in a particular situation.
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Examples of "overage" in Sentences
- The store charged me an overage fee because I accidentally went over the limit on my credit card
- The overage of supplies in the warehouse was a result of a miscount during inventory
- The overage in the budget caused a delay in the project timeline
- The overage of points allowed in the game led to a disappointing loss for the team
- The landlord had to return the overage of rent payments to the tenant after realizing the mistake
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