noun
a company, group, or family that has been established for a long time
adjective
having existed or been used for a long time
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The company has a long history as an old line institution in the finance industry.
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My grandpa used to work for one of those old line companies that have been around forever.
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I heard that old line store is closing down after being in business for decades.
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The old line of thinking on this issue is no longer relevant in today's society.