Current overwrite policy the Windows NT/Windows 2000 Event Log service employs for this log file. The possible values of ...

Current overwrite policy the Windows NT/Windows 2000 Event Log service employs for this log file. The possible values of the property are: 
WhenNeeded - This corresponds to OverWriteOutdated = 0.
OutDated - This corresponds to OverWriteOutdated of 1 to 365.
Never - This corresponds to OverWriteOutdated = 4294967295. 
There is an interdependence between the OverWriteOutDated property (which is writable) value and the OverWritePolicy property (which is not writable) value.
If one changes the OverWriteOutDated property value to 0, the OverWritePolicy property value will be 'henNeeded' 
If one changes the OverWriteOutDated property value to 1-365, the OverWritePolicy property value will be 'outDated' 
If one changes the OverWriteOutDated property value to 4294967295, the OverWritePolicy property value will be 'Never'.

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