Resolution:
For ADBConfig.log, all SQL statements executed in the utility are logged (appended) to the adbconfig.log file and written to the "..\log" directory by default. Hence the name and the location path cannot be changed.

For ADBAgent.log, the name or the path can be changed using Adapter Administrator or using -use-trace-file &ltpath> option while starting the ADBagent. Also please refer to Chapter 5 in the Documentation guide, "Trace File Configuration Examples".