Should I replace a disk with identical disk from another server?

Newbie question here: I have a server with SAS drive failure predicted and I hope to retire that server within a month. At the same time I have another 2950 that have been retired recently and (if possible) I'd like to re-use a drive from it for the short period of time that I need it to avoid unnecesary spending on a drive that I won't need anytime soon.

Can I just use any identical drive from the retired system to replace the failing drive? The drive would contain some RAID configuration from the other system as well as data, which all (I hope) would get overwritten when I plug in the drive and rebuild the array.