existing

verb

1. (form-of, gerund, participle, present)present participle and gerund of exist

adj

1. (not-comparable)That exists, or has existence, especially that exists now.

   “Since the launch early last year of […] two Silicon Valley start-ups offering free education through MOOCs, massive open online courses, the ivory towers of academia have been shaken to their foundations. University brands built in some cases over centuries have been forced to contemplate the possibility that information technology will rapidly make their existing business model obsolete.”

   “In his favour, Beeching declared that he supported carrying on with the existing modernisation projects, but that the rest of the business needed root and branch reform.”