Generally, the LSF Scheduler is part of a bigger, BI Platform (or SAS Enterprise Intelligence Platform) installation.
You should work with your SAS Sales Representative on this issue. If you do not know the name of your Sales Rep, then find the SAS Administrator at your company, they should know the name of your Sales Rep. If you are the SAS Administrator at your site and you need to make contact with your Sales Rep, if you contact SAS Tech Support, they can look up your company's information and refer you to the right person.
Well, I interpreted "update" and the question "What are the steps to renew LSF Scheduler license in AIX." as an "about to expire license" that needed to be renewed (i.e. paid for). He could already have a valid license and might need to pay the yearly maintenance to get the renewal instructions.
The LSF Scheduler is usually part of a bigger configuration and if LSF Scheduler needs to be renewed, there might be other software needing renewal, as well. Updating LSF Scheduler if his SAS server license also needs to be renewed won't do the users much good.
If that was the case, LSF about to expire, all the SAS licenses would probably have already expired (If they hadn't started the renewal process), as the LSF Licenses generally have a couple of extra months over the sas licenses as there is no grace or warning period for it.
Generally, from what I have seen at a few sites, what happens is that people renew the SAS licenses and SAS has good documentation on how to do this, at the same time the LSF license is supplied but is usually an oversight and is forgotten. LSF doesn't give warning msg like SAS so the first someone knows about it is when it doesn't work.