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Options file - MAX vs. RESERVE

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I'm trying to configure my Options file so I can set license numbers reserved for 3 different groups

When I use the RESERVE option to set the amount, borrowing will not work. It throws up an error message.
I can use the MAX option that does allow borrowing, but my fear is that other users not included in the license group can get licenses.

Why won't the RESERVE option work with borrowing?

Edit- Using latest 10.2 license server administrator with new 10.2-10.1 licenses.

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