As far as I understand it the use of Adobe's bundled fonts is governed by the EULA for the software, of which the font is a part. see Section 1 subsection iii 1. Definitions. "Software" means (a) all of the contents of the files, disk(s), CD-ROM(s) or other media with which this Agreement is provided, including but not limited to (i) Adobe or third party computer information or software; (ii) related explanatory written materials or files ("Documentation"); and (iii) fonts; and (b) upgrades, modified versions, updates, additions, and copies of the Software, if any, licensed to you by Adobe (collectively, "Updates"). ...
So the font is governed by the same EULA as Acrobat Reader.

This topic has come up before. The problem I have with understanding the EULA is that it is difficult to interpret the rest of the agreement in terms of using the fonts as such. For example, the paragraph about "No Modification" puts restrictions on how other software may interface with the Software, but these only make sense when talking about interfacing with Acrobat Reader: i.e. creating plug-ins for it, or integrating it into other applications. You really have to stretch the meaning to understand such "interfacing" in terms of the fonts.

Albertoxic, can you link us to the EULA? I'd be interested in reading it.

Hi Tiffany,
fonts bundled with Acrobat Reader have not a specific license agreement. Probably their use is governed by Acrobat Reader's license: http://www.adobe.com/products/acrobat/acrreula.html

But, as Glyn Adgie said, it's not so simple to interpret the software EULA regarding bundled fonts...

Under Software Use it states: 2.1 General Use. You may install and Use a copy of the Software on your compatible computer, up to the Permitted Number of computers.

I would take use in this instance to allow for graphic design work.

Under Definitions it states: "Use" or "Using" means to access, install, download, copy or otherwise benefit from using the functionality of the Software in accordance with the Documentation.

I would find the word benefit to include design work.