The act of requesting a license from a common pool of licenses shared by a group of potential users. Once the license is checked out, it is unavailable to other potential users until returned by the application upon exit, or until the license times out. Typically there is a maximum number of concurrent licenses that can be checked out at any point, and therefore the request to check out a license may be denied if this situation occurs (denial of service).
See also Floating Licensing, Check In, High Water Mark, Overdraft License and Denial Of Service
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