When we exceed our license 5 times, we are supposed to get temp reset license key to reset the license... Does this reset temp license have any validity to apply or can we keep the same reset key and apply when we exceed our license?
The reset is limited. If you need to reset again, you must contact Splunk Support again.
If a customer constantly exceeds their license, then they are using more Splunk than they paid for. A reset license is something that Splunk gives to a customer to help them in the short-term, while the customer decides to either (1) purchase additional license capacity or (2) index less data per day. So the customer should be taking some action to stop exceeding their license.