As best I can tell, the terms of the "license" Amazon grants when "selling" an ebook are, in their entirety:
"Use of Kindle Content. Upon your download or access of Kindle Content and payment of any applicable fees (including applicable taxes), the Content Provider grants you a non-exclusive right to view, use, and display such Kindle Content (for Subscription Content, only as long as you remain an active member of the underlying membership or subscription program), solely through Kindle Software or as otherwise permitted as part of the Service, solely on the number of Supported Devices specified in the Kindle Store, and solely for your personal, non-commercial use. Kindle Content is licensed, not sold, to you by the Content Provider. The Content Provider may include additional terms for use within its Kindle Content. Those terms will also apply, but this Agreement will govern in the event of a conflict. Some Kindle Content, such as interactive or highly formatted content, may not be available to you on all Kindle Software.
Limitations. Unless specifically indicated otherwise, you may not sell, rent, lease, distribute, broadcast, sublicense, or otherwise assign any rights to the Kindle Content or any portion of it to any third party, and you may not remove or modify any proprietary notices or labels on the Kindle Content. In addition, you may not attempt to bypass, modify, defeat, or otherwise circumvent any digital rights management system or other content protection or features used as part of the Service." (from
https://www.amazon.com/gp/help/custo...deId=201014950).
The only additional relevant text I can find on that page regards "risk of loss": "Risk of Loss. Risk of loss for Kindle Content transfers when you download or access the Kindle Content."
I'm not sure what this means in the context of the "cloud" Kindle library.