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Default Formula too Long

I have the following formula in one of my excel cell and I would like
to link other files to this formula but I get a message saying "formula
is too long." What can I do to work around that? Please advise!
P.S. I would like to do this e/o all necessary files open if possible.

=+'W:\IB EBS\2006-08-04 P\NII\Revised NII Files\Legacy\[TL NII Proj
2006-07-25.xls]iEC Adjustments'!C5+'W:\IB EBS\2006-08-04 P\NII\Revised
NII Files\Legacy\[Nelico NII Proj 2006-07-25.xls]iEC
Adjustments'!C5+'W:\IB EBS\2006-08-04 P\NII\Revised NII
Files\Legacy\[MLIG NII Proj 2006-07-25.xls]iEC Adjustments'!C5+'W:\IB
EBS\2006-08-04 P\NII\Revised NII Files\Legacy\[MLFS+MMA NII Proj
2006-07-25.xls]iEC Adjustments'!C5+'W:\IB EBS\2006-08-04 P\NII\Revised
NII Files\Legacy\[GenAm NII Proj 2006-07-25.xls]iEC
Adjustments'!C5+'W:\IB EBS\2006-08-04 P\NII\Revised NII
Files\Legacy\[MoRe NII Proj 2006-07-25.xls]iEC Adjustments'!C5+'W:\IB
EBS\2006-08-04 P\NII\Revised NII Files\Legacy\[Exeter NII Proj
2006-07-25.xls]iEC Adjustments'!C5+'[CLIC NII Proj 2006-07-25.xls]iEC
Adjustments'!$C$5+'[FLIC NII Proj 2006-07-25.xls]iEC
Adjustments'!$C$5+'[MVATIC NII Proj 2006-07-25.xls]iEC
Adjustments'!$C$5+'[TIC NII Proj 2006-07-25.xls]iEC
Adjustments'!$C$5+'[MVATLAC NII Proj 2006-07-25.xls]iEC
Adjustments'!$C$5

 
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