When running an Exchange Cluster APM Restore job, the restored job fails with:
"No valid license for Exchange Server APM Installed"
This error will occur when you set the target client of the restore job to be a physical node instead of placing a checkmark by the Virtual Client (the DAG).
When creating and running a Restore Job of an Exchange Cluster APM backup, even if you have a valid Exchange Cluster APM applied to the NetVault Backup server machine, the Netvault backup software will look for a Standalone Exchange APM license when you select a physical node to be the target client for the restore job.
The solution is select the Exchange APM Virtual Client (the DAG), to be the target for the Restore job.