The Microsoft Customer Agreement now governs a customer’s purchases through the Cloud Solution Provider (CSP) program, replacing the Microsoft Cloud Agreement, and the April 2020 Product Terms document is updated to reflect this. So, for example, on page 60 it’s stated that rights to install Exchange, SharePoint and Skype for Business Server are included with a Microsoft 365 E3/E5 User SL, but NOT if these licences have been acquired under the Microsoft Cloud Agreement or Microsoft Customer Agreement.

Find the Product Terms documents here: http://bit.ly/MSproductterms.