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How does reindexing data count against the license?

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Does the licensing usage calculation take into account (a) the date the indexed data is from or (b) the date when the data is indexed? I need to delete some data from the past year and reindex it. If I delete that data and re-index it, does the data count against the license for those past dates or for the current date? If they're attributed to the day on which it's indexed, what are the consequences of going 100x over my license limit on one day as the result of re-indexing?

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