“Dilution Ratio” for any Calculation Period means the ratio (expressed as a percentage) computed by dividing (a) the aggregate Dilution incurred during such Calculation Period, by (b) the aggregate amount of sales by the Originators giving rise to Receivables in the two month prior Calculation Period.”

“Dilution Horizon Ratio” for any Calculation Period means the ratio (expressed as a percentage) computed by dividingquotient of (a) the aggregate Dilution incurred during such Calculation Period, by (b) the aggregate amount of sales by the Originators giving rise to Receivables in the two month priormost recently concluded period consisting of the greater of (i) one and one half (1.5) Calculation Periods and (ii) the weighted average dilution horizon calculated in accordance with the Agreed Upon Procedures as set forth in [Schedule V], divided by (b) the Net Pool Balance as of the Month End date for such Calculation Period.”

“Dilution Ratio” forRatio” means, at any Calculation Period meanstime, the ratioamount (expressed as a percentage) computed by dividing (a), calculated in connection with the aggregate Dilution incurred during such Calculation Period, by (b)delivery of any Borrowing Base Certificate for the fiscal month or fiscal quarter most recently ended, as applicable, equal to # the aggregate amount of the applicable Dilution Factors in respect of the Accounts of the Borrowers for the 12 most recently ended fiscal months divided by # total gross sales byof the Originators giving rise to Receivables in the two month prior Calculation Period.”Borrowers for such 12 most recently ended fiscal months.