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Rasterbator itself is licensed under the GPL.

It uses iTextSharp and SharpZipLib libraries.

iTextSharp ( http://itextpdf.com ) is licensed under the AGPL,
which is included in the same folder as this file.

SharpZipLib ( http://www.icsharpcode.net/OpenSource/SharpZipLib )
is licensed under the GPL with the following exception:

Linking this library statically or dynamically with other modules is making a
combined work based on this library. Thus, the terms and conditions of the
GNU General Public License cover the whole combination.

As a special exception, the copyright holders of this library give you
permission to link this library with independent modules to produce an
executable, regardless of the license terms of these independent modules,
and to copy and distribute the resulting executable under terms of your choice,
provided that you also meet, for each linked independent module,
the terms and conditions of the license of that module. An independent module
is a module which is not derived from or based on this library. If you modify
this library, you may extend this exception to your version of the library,
but you are not obligated to do so. If you do not wish to do so,
delete this exception statement from your version.

The exception is changed to reflect the latest GNU Classpath exception.
Older versions of #ziplib did have another exception, but the new one is
clearer and it doesn't break compatibility with the old one.

In plain English this means you can use this 
library in commercial closed-source applications.