Multiple CBU records may be active at the same time. CBU resources can be 
activated, deactivated, or the activation level changed concurrently (from an 
LPAR perspective).
I assume you're using shared processors only and z/OS. Usually, from z/OS you 
may need to configure additional logical processors online to utilize more 
logicals from a given LPAR, or (recommended) configure logicals offline before 
physically deactivating resources, if the new number of physical processors in 
the shared processor pool would be less than the number of logicals online to 
any single partition.
You cannot extend the CBU resources *from a given record* beyond the grace 
period. The Capacity on Demand user's Guide for your hardware model is a good 
resource, e.g., regarding the grace period handling.
In general, there should be no reason for IPLing z/OS unless you had disabled 
DYNCPADD in your LOADxx,  or you would be running out of the limit and you need 
to utilize more logical processors. z/OS subsystems are usually well prepared 
to deal with model changes.

Horst Sinram - STSM, z/OS Workload and Capacity Management

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