definiens: shall mean : ( a ) the gross amount billed or invoiced, or if no such bill or invoice is issued the amount received, whichever is greatest, by Licensee and its Affiliates and/or on account of sales of Licensed Products, less the following ( to the extent separately stated on the bill or invoice and actually paid by Licensee or its Affiliates in effecting such sale ): ( i ) amounts repaid or credited by reason of rejection or return of applicable Licensed Products ; ( ii ) reasonable and customary trade, quality or cash rebates or discounts to the extent allowed and taken ; ( iii ) reasonable and customary amounts for outbound transportation, insurance, handling and shipping, but only to the extent set forth separately on the bill or invoice in a manner that clearly specifies the charges applicable ; and ( iv ) taxes, customs, duti es and other governmental charges levied on or measured by sales of Licensed Products, to the extent set forth separately on the bill or invoice, whether paid by or on behalf of Licensee or its Affiliates so long as the amount received for such Licensed Pr oducts is reduced thereby, but excluding franchise or invoice taxes of any kind whatsoever