This is apparently a use of the adjective less to mean "subtracted from a whole" or "with the exception of". The confusion arises in the capitalization of "less", which makes it appear to modify the degree of the adjectival "applied".
The OED has:
- Preceding (†formerly also, following) a numeral or other quantitative expression, used to denote that the number or quantity indicated is to be subtracted from a larger one mentioned or implied; = minus v. Also transf., used (like minus) for ‘not including’, ‘except’.
1911 Rep. Labour & Social Conditions in Germany (Tariff Reform League) III. vi– vii. 20 All meat is sold less the bone.
The meaning of the description is thus:
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