Simply follow these steps:
1. Close your DAW (Pro Tools, Logic, etc.)
2. Visit iLok.com and download the latest version if the iLok License Manager application.
- If you are on OS X 10.6 (Snow Leopard) or earlier, or Windows Vista (or earlier), please download the appropriate legacy installer here.
4. Restart your computer.
That should solve it! This issue only affects users with Soundtoys 5.0.1 or earlier who have not installed iLok License Manager 3.1.6 or later. Downloading/installing Soundtoys 5.3 from your Soundtoys account will also fix the problem. If you continue experiencing errors, please contact our support team.