The Federal Court of Justice (BGH) has ruled that volume licenses may also be split up

Judgment of the BGH dated December 11, 2014

If the first acquirer has acquired a license that permits the use of the copy of the computer program installed on a server by several users, the subsequent acquirer of the copy of this program can only successfully invoke the exhaustion of the distribution right to this copy if the first acquirer has rendered this copy unusable. If, on the other hand, the first acquirer has acquired a license that permits the use of several independent copies of the computer program, the subsequent acquirer of copies of this program can already successfully invoke the exhaustion of the distribution right to these copies if the first acquirer has rendered a corresponding number of copies unusable.

Rz 46: If, on the other hand, the first purchaser has acquired a license that permits the use of several independent copies of the computer program (so-called volume license), he is entitled to resell the right to use the program in question for a number of users determined by him and to continue to use it for the remaining number of users. The individual licenses are each independent rights of use that can be transferred independently. ...

In such a case, the subsequent acquirer of copies of this computer program can therefore already successfully invoke the exhaustion of the distribution right to these copies if the first acquirer has rendered a corresponding number of copies unusable.