definiens: means, with respect to a particular time period, the totalamounts invoiced by Novo Nordisk, its Affiliates and their respective sublicensees for sales ofLicensed Products made during such time period to unrelated Third Parties, less the followingdeductions to the extent actually allowed or incurred with respect to such sales, calculated inaccordance with International Financial Reporting Standards as adopted by the EU:(a)reasonable and customary discounts, including cash andquantity discounts, charge - back payments, administrative fees incurred directly in suchdiscounting, and rebates actually granted to trade customers and distributors, including rebatesand chargebacks or retroactive price reductions made to federal, state, or local governments ( ortheir agencies ), or any Third Party payor, administrator or contractor ( not being a sublicensee forthe relevant Licensed Product ), including managed health organizations which arise solely inconnection with sales of the Licensed Product;(b)reasonable and customary credits or allowances actuallygranted for damaged, outdated, spoiled, returned or rejected Products, including, withoutlimitation, in connection with recalls;(c)charges included in the gross sales price for freight, insurance, transportation, postage, handling, insurance and any other charges relating to thesale, transportation, delivery or return of the Licensed Product to the extent that the charges areincluded in the invoice price to the buyer;(d)amounts previously included in Net Sales of LicensedProduct that are written off as uncollectible after reasonable collection efforts, in accordance withstandard accounting practices of the applicable party as generally and consistently appliedthroughout such party ’s organization ; and(e)taxes, tariffs, duties or other governmental charges ( otherthan income taxes ) levied on, absorbed or otherwise imposed on sales of the Product in theTerritory, as adjusted by any refunds