The Collected Transients EULA is pretty simple. To summarize some major points:

  • Libraries are licensed, not sold.
  • This license allows you to use libraries in almost any media project, royalty free.
  • Unless you purchase a multi-user license, you and you only can use the sounds.

The full text of the standard Collected Transients Single User EULA can be viewed here:

Collected Transients EULA