Minimum Allowance for Loan Loss

Minimum Allowance for Loan Loss. Shall mean an amount equal to the greater of (a) 7% of the total net outstanding Receivables or (b) net outstanding Receivables multiplied by the rolling twelve month ratio of net charge-offs to average net Receivables outstanding during such twelve month period or (c) an amount pursuant to the recommendation of the independent certified public accountant auditing the Borrower's financial statements.