As a SaaS provider, we utilize the Microsoft Services Provider License Agreement (SPLA). Adding this electronic note for future reference.
SPLA “is for organizations that want to offer hosted software and services to end customers, such as Web hosting, hosted applications, messaging, collaboration, and platform infrastructure.
Hosting providers who want to offer software services to their customers and who will include software licenses as part of their service offering should use SPLA. Microsoft SPLA is the only Microsoft Volume Licensing program that allows Microsoft products to be used for commercial hosting.”