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speedytortoise

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SPLA licensing question

I have a customer that has an exchange 2003 server but now wants to host it at our Colo facility.  We are setup for the Microsoft SPLA requiements but I am not sure if they apply to us just maintaining and hosting their server at our Colo.  Does anyone know weather or not my clients existing licenses are good enough for this kind of setup.   Any assistance would be great.
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Sembee
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