definiens: shall mean the amount billed or invoiced on sales of Licensed Products by Company or its sublicensees of Patent Rights or distributors, less 1 ) Customary trade, quantity or cash discounts and commissions actually allowed and taken ; 2 ) Amounts repaid or credited by reason of rejection, return or retroactive price reductions ; 3 ) To the extent included in the amount stated on purchase orders, invoices or other documents of sales, taxes levied on and/or other governmental charges made as to production, sale, transportation, delivery or use, and paid by or on behalf of Company ; 4 ) To the extent included in the amount stated on purchase orders, invoices or other documents of sales, freight, insurance and other transportation charges ; and 5 ) any such billed or invoiced amounts not collected by Company, its sublicensees or distributors, which deduction may be taken in the calendar quarter in which such sales are no longer recorded as a receivable, all in accordance with United States GAAP