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Breaking this condition means they will not allow you to play on THERE servers
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Agreed.
But the agreement is the *only* thing that allows you to use their copyrighted material at all in *any way*. So once that is terminated you have no rights at all to use it.
When you "buy" a copy of the software you are in fact doing no such thing. You are purchasing physical media with the software on, and a license agreement that grants you the right to use the copyrighted material in certain ways.
I don't like it any more than you do, but that's the way it is sadly.