Explain this section of a program User Agreement

“2.INSTALLATION AND USE RIGHTS. Before you use the software under a
license, you must assign that license to one device. That device is the
“licensed device.” A hardware partition or blade is considered to be a
separate device.
a.Licensed Device. You may install and use one copy of the software
on the licensed device.
b.Portable Device. You may install another copy on a portable device
for use by the single primary user of the licensed device”
I think it means that when you install the program on a device… you can make a backup on a portable device but that backup is only supposed to/only can(?) be used on that original device. Incase the original program gets corrupted and needs to be reinstalled?

My friend thinks it means that you can use it on other machines, but only the primary user, can/is supposed to use it.

IANAL, but my interpretation is that the copy you install on a portable device can be used on another machine, but only by you (the primary user of the licenced device, which I assume would be your home machine). Which would mean that you could run it “through” another machine off of the portable device, but not install it on that machine.

ETA: I’m assuming here that the “portable device” means something like a thumbdrive or backup disk.

You can build a blade server and each blade requires you to purchase a license is how I read it.