Retain application log This security setting determines the number of days' worth of events to be retained for the application ...

Retain application log  This security setting determines the number of days' worth of events to be retained for the application log if the retention method for the application log is By Days.  Set this value only if you archive the log at scheduled intervals and you make sure that the Maximum application log size is large enough to accommodate the interval.  Notes  This setting does not appear in the Local Computer Policy object. A user must possess the Manage auditing and security log user right to access the security log. Default: None.