definiens: means revenues received by Kinex from any Sublicense or from Direct Kinex Sales of a Licensed Product in the Territory subject to the fo llowing adjustments calculated on a consolidated ba sis with Kinex US in accordance with IFRS : With respect to revenues arising from each Sublicen se and from Direct Kinex Sales, such revenues shall be reduced for ( i ) cost of goods, ( n ) sales and market ing expenses for launch of a Licensed Product in th e Territory, ( iii ) general and administrative costs ( which shall not include depreciation and amortization attribut able to the Licensed Product in the Territory ) related to the C ommercialization of the Licensed Product for the Te rritory, and ( iv ) research and development costs incurred af ter initial Regulatory Approval in the Territory re lated to Clinical Studies necessary for market expansion . Fo r the avoidance of doubt, all costs and expenses as mentioned in ( i ), ( ii ), ( iii ), and ( iv ) herein shal l not be deducted more than once from revenues aris ing from each Sublicense and from Direct Kinex Sales in the calcu lation of Net Profits