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VM Failover server, questions about licenses

I will setup a host server to host 4 VMs via MS Server 2012 Hyper-V Role. I am also considering to setup a failover server to "mirror" the  host server.

Does this mean that I will have to buy the same amount of server licenses and CALs running on the VMs for the failover server? That's gonna be lots money!

Please kindly clarify

Thanks
Jack
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Sean
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Thank you very much!