definiens: means the gross invoice price, o r in the event there is no invoice price, the contract price charged to a third party by Renalyti xAI or Sublicensees, as applicable, for Commercial Sales, prior to any discounts or other list price reductions gra nted . A Licensed Product shall be considered sold f or purposes of calculating Gross Sales when it is invoiced or p aid for, whichever occurs earlier . In the event Ren alytixAI, its Affiliate, or Sublicensee transfers a Licensed Prod uct to a third party in a bona fide arm ’s length tr ansaction, for any consideration other than cash, then the Gross S ales price for such Licensed Product shall be deeme d to be the standard invoice price then being invoiced by R enalytixAI, its Affiliate, or Sublicensee, as appli cable, in an arm ’s length transaction with similar companies und er similar circumstances . In the absence of such st andard invoice price, then the Gross Sales price shall be the Fair Market Value of the Licensed Product