In the STLC, what factors determine the exit criteria of a testing phase?

Exit criteria in the Software Testing Life Cycle (STLC) are a pre-defined set of conditions or metrics which must be achieved to conclude a testing phase. These conditions could include factors like achieving a certain percentage of test coverage, a limited number of high-severity defects remaining open, meeting performance benchmarks, etc. Having a clear exit criteria ensures that a testing phase achieves its intended quality objectives before moving to the next phase.