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Sheet Level Names allow you to use the exact same name to refer to a range on many different Worksheets. For example, you can have the name ThisMonth represent the range A1:A10 on many different Worksheets. Then, if you used =SUM(ThisMonth) the SUM would always sum A1:A10 of the sheet the formula resides on. If using the sheet level named range in VBA code, it will always refer to the ActiveSheet at the time, assuming it has been specified.
Excel Named Range Manager 
Excel 97 or above |
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