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When deployed SelectServer does not have connectivity (verified with SelectServer 09.00.00.113) and is configured using XML license file it will not be aware of the new Bentley Passport license and the products contained within it like AssetWise Client for example will not get licensed.
Bentley Passport is a new license containing the old ProjectWise Passport and AssetWise Passport applications and the SelectServer Installation 09.00.00.113 (the latest as of now) is not aware of the change.
Transmit SelectServer application usage logs manually in SelectServer Administration Site->Administration->Manual Log Transmittal and import response file - at this moment you will start seeing the Bentley Passport in View License File in the Administration Site but on the user side the Bentley Passport may still not be shown in the License Management Tool (because of Internet Information Services caching), in this case it is needed to stop/start the SelectServer Application Pool in the Internet Information Services on SelectServer machine. After the above is done you can locate the AssetWise Passport (the old license name) in the Activation Status of LMT on the user machine, highlight it and click Activate - the name will change to AssetWise Client and it will get Activated.