Well, what should I say? The clip engages well in a Wave, is stable and a useful extension. Too bad the Leatherman that thing is not equal with this pack. The small lanyard ring makes perfect sense as it is to fulfill a different function from the intergrated ring, namely the Wave quickly be linked and decoupled. I do not need this feature, but for one or the other might that be nice. All in all a nice product at a fair price