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How does multiple waiver works?

Hi,

I set up 2 waivers under 1 term fee.

waiver1 = 100% waiver 2 = 0.58%

The result was

Term fee = 5103.5

waiver1 = 5073.9 waiver2 = 29.6


My question is why waiver1 was not set to 100% and somehow less the amount of waiver2. Does this mean the waiver amount cannot exceed 100%?

Thanks for your help.

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