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Before answering the question, I would confirm that whether “Office Professional Plus” mentioned is Office Professional Plus 2010 for Office 365.
If so, please refer to the following content for your concerns. Please note that all “Office Professional Plus” mentioned in the following content means Office Professional Plus 2010 for Office 365.
How do I assign that license on the new machine without disabling the existing installation?
Do you want to activate Office Professional Plus on a new computer without uninstalling it on the old computer?
You can use that license to activate Office Professional Plus on the new computer directly, since each Office Professional Plus license in Office 365 allows five concurrent installations.
Is there a "grace period" that will allow me to temporarily use the same license on two machines?
No, as the information above mentioned, you can use one Office Professional Plus license to activate Office Professional Plus on five computers. As a result, you can activate Office Professional Plus on two machines at the same time.
In addition, if the license has been already used to activate Office Profession Plus on five computers, the license cannot be used to activate it any longer at a new computer.
Can I assign second license to the user, then remove the original license and place it back in our "unused license pool"
Yes, please refer to the following steps to remove an Office Professional Plus license on one computer.
1. Click Start, in the search field, type cmd, and then press ENTER.
2. At the command prompt, type the following command, and then press ENTER:
1). 64-bit Windows with 32-bit Office:
"%CommonProgramFiles(x86)%\microsoft shared\OFFICE14\OSAUI.exe" /R (with quotes)
2). 32-bit Windows, or 64-bit Office with 64-bit Windows:
"%CommonProgramFiles%\microsoft shared\OFFICE14\OSAUI.exe" /R (with quotes)
3. The command will prompt the user for credentials and displays the list of computers that are associated with the entered user ID and lets the user remove any of them from the account.
This is the recommended method for viewing the list of computers licensed by a specific user ID. (Note that a single user, that is the user ID, may be used to license multiple computers up to the subscription’s pre-defined limits).
In addition, grace period of Office Professional Plus 2010 for Office 365 does exist.
If Office Professional Plus cannot validate a user's subscription status, the product will enter a 30-day grace period. During the grace period, Office Professional Plus will try to validate the user's subscription status on a daily basis and still with full funtionality. If after the 30-day grace period, Office Professional Plus still has not been able to validate a user's subscription status, Office Professional Plus will enter Reduced Functionality Mode (RFM). After that, you may need to reactivate subscription license for Microsoft Office Professional Plus.
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