[jeffro]

Welcome to the community.

Is the new 'activation key' a new/full product or a renewal/reinstatement? If the former then you'd have 2 licenses so could put them on 2 iLoks, one for each computer. If it's a renewal or reinstatement (upgrade) then you only have 1 license (likely a bundle including legacy versions). You'd put that on your iLok and move the iLok to the computer you are currently running Pro Tools on - you can leave Pro Tools installed on both computers. Hope that helps clarify things.