1. A NOLO situation results when you fail to go all out (as prescribed by the yolo motto)
2. Also applies to describe a yolo situation that goes horribly wrong
Josh: nah man I have to get up early tomorrow.
Me: Dude! there's gonna be tons of sluts
Josh: Just not feelin it, nolo
2. Me: dude I got some last night
AJ: was it who I think it was