There is a tutorial about how to install a Terminal Services Licensing Server on a Windows 2003 Server that you can find here:

Install Windows 2003 Terminal Service Licenses

But what if you want to use this new licensing server as the default licensing server for other servers in your network. Basically, if you have several servers that allow Remote Desktop (Terminal Services) but you want to use the same license pack to share across all these servers, then you have to point each satellite server to validate it's license against the Terminal Services Licensing Server.

To do this, first you need to go to the Group Policy Manager object. One of the easiest way to do this is to open the Microsoft Management Console from the Run command by typing: mmc

In the Console, choose File -> Add/Remove Snap-in... to find the Group Policy snap-in to add to your console.

Click the Add button to open the list of possible snap-ins.

Find the Group Policy Object Editor in the list of Snap-in's and click Add.

When prompted to select where you want to connect this Group Policy Object to, select "Local Computer". Then click Finish.

Click close because we don't want to add any other objects.

Click OK to get back to the Console root with your newly added snap-in.

Tree open the Local Computer Policy -> Computer Configuration -> Administrative Templates -> Windows Components -> Terminal Services on the tree view.

Find the option in the Terminal Services list Use the specified Terminal Server license server and right-click and choose Properties.

On the dialog, choose Enabled in the radio button list and then in the License servers to use, enter the name of the server or IP Address on the network that you want this server to use as it's primary licensing location. Then click OK.

Now when you connect with a Remote Desktop session, this server will first attempt to connect to this new License Server to get it's CAL.