license install question

I just received a permanent license and used slicense tcode and used install dialog to key in the new license key, system number and installation number and came up with green light on the status column. Now I am not getting warning the license is expiring. But still the current active says license as INITIAL and system number is empty. I even deleted the old initial license entry. How do I make the new permanent license as an active one. Does it automatically takes the permanent one when the INITIAL one expires?

The system -> status also shows INITIAL for System data installation number.

thanks