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We Have A Customer That Is Looking To Use A BizSpark License In Our Cloud. As This Is MSDN, I Don't Believe This Is Valid Unless It Is Hosted In Azure. If We Dedicate Hosts To Our Customer And Their Workloads, Would This Be Valid?

Correct - BizSpark don’t have “license mobility with SA” rights to run on a shared hardware environment except on Azure.

However, you may run them on a physically dedicated hardware for the end-customer.

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