Only 1 installation is allowed per license.
From the License Agreement:
Quote:
Subject to the terms and conditions of this Agreement, vBulletin Solutions grants to you a limited, non-exclusive, worldwide license to install, download and use a single instance of the Software on a single website server ("License") through a single installation. Each License may run one instance of the Software on one domain. Any modification of the Software intended to circumvent the foregoing is prohibited and will result in revocation of the License.
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Closing as vB.org is not the place to ask this as per this forums description:
Quote:
Questions regarding default vBulletin functionality or licensing and pricing should be asked on the Official company website: vBulletin Pre-sales Questions
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