You will need to update, however, if you wish to get a newer, updated version of the Waves product you purchased. When you purchase a full Waves license you get a permanent authorization for the version you purchased. Yes, the Waves license version you purchased will continue to work, as long as your DAW version and computer operating system remain compatible with it. Will my licenses continue to work even after my Waves Update Plan expires? (Please note, however, that after your Waves Update Plan for a given product expires, you will be able to use only one license of that product, on one computer at a time you will no longer be able to use a second license on a different computer simultaneously.) If you wish to use your Waves product in the version you already own – without updating – you can continue to do so, as long as it remains compatible with your DAW and computer operating system. Access to exclusive member-only premium content.New features, components and performance improvements added to your plugins.(Please note that the 2nd license benefit applies to plugins and bundles, but not to Waves applications such as eMotion LV1, SuperRack, MultiRack, SoundGrid Rack for Venue and SoundGrid Studio, or to Waves subscriptions.) This allows you to use two licenses of a single product, on two different computers at the same time, without having to move licenses between computers. A second license for any covered plugin or bundle, for use on a second computer.Plugin updates to ensure continued compatibility with your current DAW or OS version.The Waves Update Plan provides the following benefits for your covered products, for the duration of your coverage: What are the benefits of the Waves Update Plan?