Yes, you will be able to use version of software which you currently have (VX2.1).
thanks for your post, Ron, and your helpful response, Bojan. Ron - if Bojan's response answers your question, will you please mark it as "Correct Answer"? It will help others that may have a similar question.
For the reference of others, I am going to move this thread from the Members Resource to the Licensing & Installation community. The L&I community is for this type of question, while the Member Resources is for general community questions/suggestions.
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Assuming you have a "perpetual" license (i.e. not a fixed term deal), you will get a new license with an extended expiry date, but the version number (looking something like 2016.120) will not change - so you will have to remain at the current version of software.