Actually, I originally took your post to be referring to the comingling of expenses, not to the efforts, so if your intent was to convey that there's nothing in the agreements prohibiting them from licensing multiple portfolios to the same company, I'll agree with that aspect, per se.

However, keep in mind that the agreement is written relating what is agreed to with respect to the MMP licensing only. So by agreement, other portfolios are not applicable and thus excluded from the agreement. The agreement DOES call out for TPL to use it's "reasonable best efforts", so when that entails compromising the MMP in order ensnare another portfolio license, that would be prohibited in that sense.