Leeway definitions

lē'wā'
The drift of a ship or aircraft to leeward of the course being steered.
noun
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A margin of freedom or variation, as of activity, time, or expenditure; latitude.
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The leeward drift of a ship or aircraft from the course being steered.
noun
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The definition of leeway is the amount of freedom that you have to do something or to deviate in some manner.

When you are free to wear anything you want to work, this is an example of a situation where there is a lot of leeway in the dress code.

When you have a lot of money in the bank, this is an example of a situation where you have financial leeway in case something goes wrong.

noun
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Margin of time, money, etc.
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Room for freedom of action.
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The drift of a ship or airplane in a leeward direction.
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A varying degree or amount of freedom or flexibility; margin, latitude, elbowroom.

I don't think we have a lot of leeway when it comes to proper formatting.

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(UK) An adverse discrepancy or variation in a cumulative process, usually in make up leeway.
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Origin of leeway

lee (“side away from the wind") +"Ž way