definiens: means collectively, the gross amou nt invoiced by Spring Bank or its Affiliates or sublicensees for sales of the Product to a Third Pa rty, less the following as they pertain to the Product : ( i ) normal and customary trade, cash and quantity discounts, allowances and credits granted or allowed ; ( ii ) credits or allowances actually granted for dam aged goods, returns or rejections of Product and retroactive price reductions ; ( iii ) sales taxes, duties or other taxes with respe ct to such sales ( including duties or other governmental charges levied on, absorbed or otherwi se imposed on the sale of Product including, without limitation, value added taxes or similar taxes or other governmental charges otherwise measured by the billing amount, w hen included in billing but excluding income or other taxes levied with respect to gross receipts ) actually collected by or absorbed by Spring Bank or its Affiliates or sublic ensees ; ( iv ) the portion of the annual fee on prescription drug manufacturers imposed by the United States Patient Protection and Affordable Care Act, Pub . L. No . 111 - 148 ( as amended ) that Spring Bank, its Affiliate or sublicensee, as appli cable, allocates to sales of Product in accordance with such entity ’s standard policies and procedures consistently applied across its products ; ( v ) insurance, postage, customs duties and transpor tation costs incurred in shipping Product to any Third Party to the extent separately itemized a nd included in the invoiced amount ; ( vi ) charge back payments and rebates granted to ma naged health care organizations or to federal, state and local governments, their agencie s, and purchasers and reimbursers or to trade customers, including but not limited to, whol esalers, distributors and chain and pharmacy buying groups ; ( vii ) rebates ( or equivalents thereof ) granted to o r charged by national, state or local governmental authorities ; and - 7 - ( viii ) commissions paid to Third Parties engaged by Spring Bank or its Affiliates or sublicensees to sell the Product