Formal:
* "The project was completed to a satisfactory standard."
* "The applicant's qualifications were deemed satisfactory for the position."
Informal:
* "The food was satisfactory, but nothing special."
* "The movie was okay, I guess. Satisfactory, but not amazing."
More specific:
* "The team's performance was satisfactory, but they could have done better."
* "The customer service was satisfactory, but I expected more from a premium brand."
The best sentence for you will depend on the context and your desired tone.