; and (ii) the performance criteria and minimum thresholds that the authorizer uses in determining whether to award authorization to eligible entities, as specified in subsection (b)(3)(D). (2) Eligible entity Federal Pell Grant funding requirements (A) In general An eligible entity that is authorized by an innovation authorizer in accordance with this section is eligible to receive Federal Pell Grant funds in accordance with subparagraphs (B), (C), and (D). (B) Eligible entity total cap on federal pell grant funding Each award year, an eligible entity described in subparagraph (A) will be eligible to receive (through tuition and fee payments from enrolled students) a maximum total amount of Federal Pell Grant funding that— (i) shall be determined by the innovation authorizer; (ii) shall be determined in a manner so as to ensure that the innovation authorizer does not exceed the innovation authorizer’s Federal Pell Grant cap; (iii) shall be based on the eligible entity’s history and track record of meeting or exceeding the relevant performance metrics minimum thresholds