definiens: means the gross invoice pric e of any Product sold to ----------- independent, third - party customers in bo na fide, arms - length transactions, less all credits including ( i ) quantity and/or cash discounts actually allowed or taken ; ( ii ) freight, postage and insurance ( allocated in accordance with generally acceptable accounting principles consistently appli ed ( GAAP ) ) ; ( iii ) amounts repaid or credited by reasons of rejecti ons or return of goods ; ( iv ) amounts payable resulting from Gove rnment ( or government agency ) mandated rebate programs ; ( v ) th ird - party rebates to the extent actually allowed ; ( vi ) customs du ties and taxes ( excluding income, value - added and similar taxes ), if any, directly related to the sale ; ( vii ) bad debts from Products sold in accordance with Royce 's standard credit policies ; and ( v iii ) Product samples