Additional reference that I did in my lab, to share with others.
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Physical Connectivity
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Target OOBM Device - Console Port Settings (eg. Enable Console access from Peplink Balance 580)
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Enable [Serial to Network] and [Web Console] settings, with necessary Serial Parameters
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Do take note the Web Console port is referring to MAX BR1-Mini > Web Admin access port(s)
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Successful accessing the Balance 580 - CLI via Web Console (from MAX BR1-Mini + Port Adapter)