definiens: means the gross amount invoiced on sales of Licen sed Products in the Field within the [COMPANY] Territory by [COMPANY] or any of its Rela ted Parties to any Third Party, less the following sum incurred by [COMPANY] or any of its Related Parties, with respect to the sale of such Licensed Product s, calculated in accordance with GAAP or IFRS as consi stently applied : 1.62.1 normal trade, cash, quantity and other customa ry discounts actually given to Third Parties in the ordinary course of business ; 1.62.2 rebates, credits and allowances given by reaso n of rejections returns, damaged or defective product or recalls ; 1.62.3 government - mandated rebates and any other comp ulsory payments, credits, adjustments and rebates actually paid or deducted ; 1.62.4 price adjustments, allowances, credits, charge back payments, discounts, rebates, fees and reimbursements or similar payment s granted or made to managed care organizations, group purchasing organizations or ot her buying groups, pharmacy benefit management companies, health maintenance organizati ons and any other providers of health insurance coverage, health care organizations or ot her health care institutions ( including hospitals ), health care administrators, patient assistance or o ther similar programs, or to federal state / provinci al, local and other governments, including their agenci es, or to wholesalers, distributors or other trade customers ; 1.62.5 reasonable and customary freight, shipping, in surance and other transportation expenses ; 1.62.6 sales and excise taxes ( such as value added ta x or its equivalent ), other consumption taxes, customs duties and compulsory pa yments to governmental authorities and any other governmental charges imposed upon the sale of the Product duties, and other taxes and government charges directly related to the sale, de livery or use of Licensed Product ; - 10 - Confidential 1.62.7 a reasonable deduction to reflect amounts previ ously included in Net Sales of Licensed Product that are written off as uncollecti ble after reasonable collection efforts, in accordance with standard practices of [COMPANY]