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Our is using Maxwell V3 and we want to introducce Maxwell V5. The problem is that many of our models are still Maxwell 3 reliant, and I am curious if we can toggle between v3 and v5 on the same machine. Any advice or guidance is appreciated.

On license side this is easier with maxwell 5.0.2 as we serve maxwell 5 licenses on a v5 folder sepparatly from v3 and v4. On file format, please note that Maxwell 5 opens maxwell 3 scenes and materials, but maxwell 3 will not open maxwell 5 ones.

Ok great, thank you for the info. One other question - do we have to uninstall V3 in order to install and use V5 on the same machine, or can we use both versions on the same machine?

You can use both, maxwell 5 will be on a diferent folder. And license is on different folder too since 5.0.2. So you should have no problem at all.