definiens: shall mean, with respect to a Licensed Product, the gross amount invoiced by or on behalf of the LLC or of its Sublicense es, for Licensed Products sold to Third Parties in bona fide, arm ’s -length transactions, less the following ( collectively, the ): ( i ) trade, cash, promotional and quantity discounts, and wholesaler fees ; ( ii ) taxes on sales ( such as e xcise, sales or use taxes or value added taxes ) to the extent imposed upon and paid directly with respect to the sales price ( and excluding national, sales or local taxes based on income ) ; ( iii ) freight, insurance, packing costs and other transportation ch arges to the extent included in the invoice price to the buyer ; ( iv ) amounts repaid or credits taken by reason of damaged goods, rejections, defects, expired dating, recalls, returns or because of retroactive price changes ; ( v ) charge back payments and reb ates granted to ( a ) managed healthcare organizations, ( b ) federal, state and/or provincial and/or local governments or other agencies, ( c ) purchasers and reimbursers, or ( d ) trade customers, including without limitation, wholesalers and chain and pharmacy buying groups, all only to the extent permitted by applicable law and regulations ; ( vi ) documented customs duties actually paid by the Selling Person ; and ( vii ) any other reduction or specifically identifiable amounts included in the Licensed Product ’s gross invoice that are creditable for reasons substantially equivalent to those listed above . Sales between or among the LLC or its Sublicensees shall be disregarded for purposes of calculating Net Sales