IF function does not populate when condition met

hrh_dash 

Wouldn't it be easier to enter the following formula in L2 and fill down?

=IF(AND(K2>0,K2<=10),"waive admin fee","")

If you prefer the event procedure:

Private Sub Worksheet_Change(ByVal Target As Range)
    Dim rng As Range
    If Not Intersect(Range("K2:K" & Rows.Count), Target) Is Nothing Then
        Application.ScreenUpdating = False
        Application.EnableEvents = False
        For Each rng In Intersect(Range("K2:K" & Rows.Count), Target)
            If rng.Value > 0 And rng.Value <= 10 Then
                rng.Offset(0, 1).Value = "waive admin fee"
            Else
                rng.Offset(0, 1).ClearContents
            End If
        Next rng
        Application.EnableEvents = True
        Application.ScreenUpdating = True
    End If
End Sub