definiens: shall mean the gross receipts representing sales of LICENSED PRODUCT in the TERRITORY under this AGREEMENT by [COMPANY] and its sublicensees ( lithe Selling Party " ) to THIRD PARTIES in finished product form ( Le ., packaged and labeled for sale to the ultimate consumer ) less deductions for : ( i ) transportation charges to the extent they are included in the selling price or otherwise paid by the THIRD PARTY purchaser, including insurance, for transporting LICENSED PRODUCT ; ( ii ) sales and excise taxes and duties and any other governmental charges imposed upon the production, importation, use or sale of such LICENSED PRODUCT ; ( iii ) trade, quantity and cash discounts and/or trade rebates ( in each case, excluding advertising and promotional considerations included in the selling price ) allowed on LICENSED PRODUCT ; ( iv ) allowances or credits to customers on account of rejection or return of LICENSED PRODUCT or on account of retroactive price reductions affecting such LICENSED PRODUCT