[Goose]

After the 2017 season, a one loss Bama (11-1, 2nd in the SEC west) edged out Big Ten conference champion Ohio State to take the 4th CFP spot behind #3 Georgia, #2 Oklahoma and #1 Clemson.  Alabama beat Clemson (24-6) and then prevailed in the NCG 26-23 against Georgia in an all SEC final.  So there is nothing in the contract that excludes a one-loss SEC team that did not even win their division to be excluded from the CFP.

Absolutely true. A one-loss team from any conference could, at least in theory, get in if circumstances were right.

Ohio State was a 2-loss champion (vs. Oklahoma and Iowa), as well as USC (Notre Dame and Wazzu).  And so far, no 2-loss team has made the CFP.  Auburn was the SEC west champion, but had 2 losses after the SEC Championship game against Georgia.

Exactly my point. If the champion of any P5 conference has two or more losses, a team from another conference with only one loss can credibly be justified as having a better record. It would take some doing, but it can be justified. However, AFAIK, it has yet to happen that a one loss conference champion has lost out to a one loss non-champion. I don't think this will ever will happen either, because the uproar would be just too great. Justifying that choice would require totally devaluing the conference championship, and I don't think the committee would ever want to take the heat for doing that.

[Goose]

After the 2017 season, a one loss Bama (11-1, 2nd in the SEC west) edged out Big Ten conference champion Ohio State to take the 4th CFP spot behind #3 Georgia, #2 Oklahoma and #1 Clemson.  Alabama beat Clemson (24-6) and then prevailed in the NCG 26-23 against Georgia in an all SEC final.  So there is nothing in the contract that excludes a one-loss SEC team that did not even win their division to be excluded from the CFP.

Absolutely true. A one-loss team from any conference could, at least in theory, get in if circumstances were right.

Ohio State was a 2-loss champion (vs. Oklahoma and Iowa), as well as USC (Notre Dame and Wazzu).  And so far, no 2-loss team has made the CFP.  Auburn was the SEC west champion, but had 2 losses after the SEC Championship game against Georgia.

Exactly my point. If the champion of any P5 conference has two or more losses, a team from another conference with only one loss can credibly be justified as having a better record. It would take some doing, but it can be justified. However, AFAIK, it has yet to happen that a one loss conference champion has lost out to a one loss non-champion. I don't think this will ever will happen either, because the uproar would be just too great. Justifying that choice would require totally devaluing the conference championship, and I don't think the committee would ever want to take the heat for doing that.