definiens: shall mean the gross amount invoiced for bona fide arms ’ length sales of Royalty Products in the Territoryby or on behalf of a Party, or its Affiliates or sublicensees to5 Third Parties, less the following deductions, determined in accordance with IAS / IFRS ( or GAAP for the US ) consistentlyapplied : ( a ) normal and customary trade, cash, quantity and free - goods allowances granted and taken directly with respect to salesof such Royalty Products ; ( b ) amounts repaid or credited by reason of defects, rejections, recalls, returns, rebates, allowances and billing errors ; ( c ) chargebacks and other amounts paid on sale or dispensing of Royalty Products ; ( d ) Third Party cash rebates and chargebacks related to sales of Royalty Products, to the extent allowed ; ( e ) retroactive price reductions that are actually allowed or granted ; ( f ) compulsory refunds, credits and rebates directly related to the sale of Royalty Products, accrued, paid or deductedpursuant to agreements ( including, but not limited to, managed care agreements ) or governmental regulations ; ( g ) freight, postage, shipment and insurance costs ( or wholesaler fees in lieu of those costs ) and customs duties incurredin delivering Royalty Products that are separately identified on the invoice or other documentation ; ( h ) sales taxes, excess duties, or other consumption taxes and compulsory payments to Governmental Authorities orother governmental charges imposed on the sale of Royalty Products, which are separately identified on the invoice or otherdocumentation ; ( i ) as agreed by the Parties, any other specifically identifiable costs or charges included in the gross invoiced sales priceof such Royalty Product falling within categories substantially equivalent to those listed above and ultimately credited tocustomers or a Governmental Authority or agency thereof ; ( j ) invoiced amounts that are written off as uncollectible in accordance with a Party ’s or its Affiliates ’ or sublicensees’respective accounting principles as applied consistentlyNet Sales in currency other than United States Dollars shall be translated into United States Dollars according to the provisionsof Section 4.6 of this Agreement