definiens: means with respect to a Product, the gross amount invoiced for sales of any Product in the Territory by [COMPANY] to Third Parties, less the applied sales deductions from such gross amounts to the extent that su ch amounts are either included in the billing as a line item as part of the gross amount invoiced, or otherwise determined and subsequently applied in accordance with th e Generally Accepted Accounting Principles of the United States ( U.S. GAAP ) . [COMPANY] ’s direct distribution cost s are considered part of net sales definition independently of their place of recording within [COMPANY] ’s income statement . Such sales deductions include : ( a ) freight, shipping and insu rance costs relating to the distribution of the Product ; ( b ) sales, excise, or taxes ( excluding income taxes ) imposed on [COMPANY] with respect to the sale of the Product ; ( c ) any industry standard discounts, c ontributions or rebates to the competent Regulatory Authority and/or social security systems pursuant to the regulations and/or agreements in force and irrespective of their nature ( mandatorily imposed or individually provided ) ; ( d ) industry standard cash trade an d quantity ( volume ) discounts and allowances, including, but not limite d to, cash rebate to patients ; ( e ) subject to Section 5.7.4, credits to cu stomers due to rejection, recall or return of Product ; and ( f ) retroactive price reductions impos ed by Regulatory Authorities