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From The Collaborative International Dictionary of English v.0.48:
Outstanding \Out*stand"ing\, a. 1. That stands out; undischarged; uncollected; not paid; as, outstanding obligations. [1913 Webster] Revenues . . . as well outstanding as collected. --A. Hamilton. [1913 Webster] 2. Conspicuously excellent; markedly superior; distinguished. [PJC] 3. So prominent so as to attract notice; conspicuous; usually but not always in a good sense. [PJC]