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That should be per server.
No. R1 bills per each agent connected to a server.
Ah I see. Wasnt aware. Though in a cpanel scenario, its a single agent that runs the backup for the whole server.
If ALL your 200 clients are hosted on just 1 dedicated server, you will need to buy just 1 R1Soft License.
When you buy the license you will get 1 Agent License to install on the server you want to backup and also a "free" license of CDP Server Backup Managed that is to install on the server where backups will be saved.
In a simple way, 1 license per server. The server can have 1 or 1000 clients. Is the same.
Hope it helps!