Approval Levels Clause Samples
The Approval Levels clause defines the hierarchy and authority required for making decisions or granting approvals within an organization or contract. It typically specifies which individuals or roles have the power to approve certain actions, such as expenditures, changes to project scope, or contractual amendments, often based on thresholds like monetary value or risk level. By clearly outlining who can approve what, this clause ensures accountability, streamlines decision-making, and prevents unauthorized commitments.
Approval Levels. (a) The parties will target the following minimum approval rates for Retail Financing within each Credit Tier (each, a “Minimum Approval Target”): FICO Score Net Credit Loss Rates (Annualized) Approval Rates [***] [***]% [***]-[***]% [***] [***]% [***]-[***]% [***] [***]% [***]-[***]% [***] [***]% [***]-[***]% [***] [***]% [***]-[***]% [***] [***]% [***]-[***]%
(b) In the event delinquency and loss rates materially deviate from the parties’ original expectations, a party may request modification in the Minimum Approval Targets which shall be subject to approval by the Steering Committee.
(c) Targeted approval rates shall include those customers with an ability to pay (defined in order to meet regulatory requirements).
(d) SCUSA shall use the [***] for new vehicles and [***] for used vehicles, in determining the “value” portion to the extent SCUSA imposes any loan-to-value requirements under its Credit Policies.
Approval Levels. (a) The parties will target the following minimum approval rates for Retail Financing within each Credit Tier (each, a “Minimum Approval Target”): FICO Score Net Credit Loss Rates (Annualized) Approval Rates [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***]
(b) In the event delinquency and loss rates materially deviate from the parties’ original expectations, a party may request modification in the Minimum Approval Targets which shall be subject to approval by the Steering Committee.
(c) Targeted approval rates shall include those customers with an ability to pay (defined in order to meet regulatory requirements). *** Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. MASTER PRIVATE LABEL FINANCING AGREEMENT
(d) SCUSA shall use the [***] for new vehicles and [***] for used vehicles, in determining the “value” portion to the extent SCUSA imposes any loan-to-value requirements under its Credit Policies.
Approval Levels. Judges (elected): Judges for each Circuit, Superior, Probate, County, City, Town, Small Claims and Appellate Court shall have access to all features of ICOR to which the judge has requested access. Judges, including Chief Judges, are Responsible Parties for purposes of ICOR access.