Regular License for Wordpress Theme

I purchased a regular license for a Wordpress theme.
I have to first create a test site and have to activate the theme.
Now my question is, can I just deactivate the license on the test site when I go live with the actual site and activate the license on the live site? Or do I need to purchase a new license for the live site?

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Yes, this procedure should work.
If you have any trouble to do it then you should contact the theme author.