Approval Level definition
Approval Level means criteria, often dollar levels, that define which approvals are needed for various business transactions. Limits are set on the size and nature of the business transactions and are assigned to the individual or job role authorized to execute based on the appropriate level of responsibility.
Examples of Approval Level in a sentence
The Members may determine, through an Applicable Approval Level, to make a distribution in kind of Company assets to the Members, and such Company assets shall be distributed in such a fashion as to ensure that the Fair Market Value thereof is distributed and allocated in accordance with this Article 4 and Article 5 and Article 9 hereof.