You are correct sir!!
At least this is the way it always was, but nowadays, you have to read each TOU carefully, because much like the English language, there are those, who insist on changing the meaning to suit themselves, so with that in mind, always read each license terms to be sure.
well, as we already discussed, MRR is something you can not edit, you must sell the main product as is with no modification. However, you can modify and brand (add your name) to the sales letter if one is given, or create your own, you just can not claim the main product as your own.