definiens: means the aggregate United States dollar equivalent of gross revenues invoiced by [COMPANY] and its Affiliates and its Sublicensees from or on account of the sale of Licensed Product to Third Parties, less deductions actually allowed or specifically allocated and actually incurred to Licensed Product by [COMPANY] using generally accepted accounting standards and reasonable practices with respect to sales of all [COMPANY] 's products, consistently applied, for the following : ( a ) trade, cash, and quantity discounts off the invoiced price and similar promotional discounts or rebates ( such as management fees required by hospital buying groups or granted to managed care organizations ) off the invoiced price, ( b ) credits or allowances, if any, actually granted for spoiled, damaged, out - dated and returned or recalled Licensed Product, ( c ) excise taxes, sales taxes, value added taxes, consumption taxes, customs and other duties or other taxes or other governmental charges imposed upon and paid or allowed with respect to the production, importation, use or sale of Licensed Product ( excluding income or franchise taxes of any kind ), and ( d ) if separately itemized in [COMPANY] 's invoice for Licensed Product, insurance, freight or other transportation costs incurred in shipping such Licensed Product to such Third Parties, ( collectively, the ), all of the foregoing to the extent consistent with the normal practice in the industry, and provided that any and all of the foregoing are calculated in accordance with USA Generally Accepted Accounting Principles consistently applied . The foregoing definition is subject to the following : 1.1.27 1.1.28 1.1.29 1.1.30 5 ( e ) No deduction shall be made for any item of cost incurred by [COMPANY], its Affiliates or Sublicensees in preparing, manufacturing, shipping or selling Licensed Product except as permitted pursuant to Sections 1.1.26 ( a ) through 1.1.26(d ) inclusive