definiens: shall mean : the amount of revenue actually received by Licensee or its Affiliate(s ), during any specified period in accordance with GAAP for the sale, transf er, or other disposition of a Licensed Product, less the following deductions to the extent applica ble to such amounts : ( i ) all trade, cash and quantity credits, discounts, rebates or refunds ; ( i i ) credits or allowances for returns, billing error s, damaged, outdated or recalled Licensed Products, in each case during such period ; and ( iii ) packaging costs, handling fees, insurance and prepaid freight, sales taxes, duties and other governmental charges ( including value- 3 added tax ), but excluding what is commonly known as income taxes ; provided that if a Licensed Product is so sold or otherwise transferred for a s ingle price in the form of a Combination Product, Net Sales shall be further calculated purs uant to Section 1.16(b ) below ; Notwithstanding the foregoing, in the event that, i n any given Calendar Quarter, a Licensed Product is sold as part of a Combination Product, t he amount of revenue received for such Licensed Product shall be calculated by multiplying the revenue received for such Combination Product by the fraction A/(A+B ) where is the av erage revenue received for such Licensed Product(s ) sold separately during such Calendar Qua rter, and is the average revenue received for the other items included in such Combination Pr oduct sold separately during such Calendar Quarter