preceding 在句中是动词,player 是整个句子的个语,( that have logged into their character during the ninety (90) day period immediately preceding the server merge )作状语,谓语成分是:will have priority to ,宾语成分是:the character name
在状语中,preceding the server merge 又是来修饰90 days 的,preceding是分词 其宾语是 the server merge.
译文是:
在服务器合并前的90天内登陆帐号的玩家对其角色有优先排名