definiens: shall mean, subject to Clauses 1.95(A ) and 1.95(B ) below, the gross amounts invoiced to Third Parties by a Party, or its Affiliates and its sublicensees for the sale of the Product, less to the extent applicable to such sale of the Product : ( i ) customary trade, cash and quantity discounts, if a ny, actually allowed ; ( ii ) government - mandated and othe r rebates ( such as those in respect of any state or federal Medicare, Medicaid or similar programs ) ; ( i ii ) returns, allowances or credits granted to customers on account of retrospective price reducti ons affecting Product ; ( iii ) the actual amount of a ny write - offs for bad debt relating to such sales duri ng the period in which a Party has the obligation t o pay a royalty ; ( iv ) customary transportation charges re lating to the Product, including handling charge an d insurance premium relating thereto ; and ( v ) customa ry Product rebates and Product charge backs including those customarily granted to managed care 10 entities ; ( vi ) sales taxes, excise taxes and duties paid by and not refunded to the selling Party and directly related to sale of the Product, and any ot her equivalent governmental charges imposed upon th e importation, use or sale of the Product, but exclud ing income and similar taxes, and ( vii ) any other adjustments required by generally accepted accounti ng principles under International Financial Reporting Standards