Net Loss Ratio

Net Loss Ratio. Means, as of any Determination Date, the ratio obtained by reference to the following formula: (A/B) x C where: A = the aggregate amount of Net Losses for the Managed Assets that have occurred during the six (6) Collection Periods immediately preceding such Determination Date divided by the average aggregate Principal Balance of the Managed Assets during such six-month period; B = the actual number of calendar days in such six-month period; and C... = the actual number of days in AFS's fiscal year in which the most recently ended Collection Period occurred. View More