definiens: means for each Licensed Pr oduct for any period, the gross amount billed or invoiced by Company, its Affiliates and Sublicensee s less the following deductions : ( i ) customary trad e, quantity and cash discounts actually allowed for the License d Product, ( ii ) rebates or retroactive price reduct ions actually allowed for the Licensed Product, or chargebacks ac tually made for the Licensed Product to federal, st ate or local governments ( or their agencies ) or any third party payor, administrator or contractor, including managed health organizations, or any other bona fide charge backs actually made by Company for the Licensed Pro duct that effectively reduces the selling price ; ( iii ) t axes levied on sale or transportation of the Licens ed Product and paid by or on behalf of Company, its Affiliates, or Sublicensees, ( iv ) freight allowances, insurance a nd custom duties for the Licensed Product, to the extent any of the foregoing subsections ( i ), ( iii ) and ( iv ) ar e separately stated on invoices for the Licensed Product, and ( v ) amounts that have been billed or invoiced but are written off as uncollectible ( determined in a manner consistent with generally accepted accounting principles, con sistently applied ) due to insurance coverage limits, contract ed in - network claims, denied claims, user co - pay an d deductible fees and patient assistance fees, any su ch deduction to be taken in the royalty reporting p eriod in which such amounts are written off, provided that s hould any such amounts thereafter be received, such amounts shall be recorded as Net Sales in the royalty repor ting period of receipt