The grace time is only for manual fire, isn't it? Auto-aimed fire should be safe without a grace period. Apparently it does. I've a vague feeling that the licence I lost was actually Jack Sparrow's EITC licence, and as Sparrow is due to turn pirate anyway, I wasn't too bothered. I'd say no, the reason being the Merchant Licence is supposed to tell the world that you are a peaceful, honest trader. It's at risk if you're not peaceful or not honest, i.e you commit acts of piracy or are caught smuggling. If you want to attack enemy ships, get a LoM as well as a Merchant Licence.