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The ‘limit exceeded’ error appears in case if there are more created objects in the Axxon PSIM hardware tree than it is allowed by the key (for example, in the Axxon PSIM Demo - mode). In the event of such error, run Axxon PSIM in the Demo - mode and delete the extra objects, or apply to the AxxonSoft manager and ask for a new activation key allowing to use all the created objects. 

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The full article: Features Specifics of the Axxon PSIM software operation when the object limit is exceeded