definiens: means, with respect to a Milestone Product, the gross amounts invoiced orreceived ( without duplication ) by or on behalf of Reversion Entity or any of its Affiliates orlicensees or sublicensees for any Milestone Product sold to third parties ( other than licensees, but including wholesalers and distributors ) in bona fide, arms - length transactions, as determinedin accordance with GAAP, consistently applied, less the following permitted deductions withrespect to such sales that are either included in the billing as a line item as part of the grossamount invoiced, or otherwise documented as a deduction in accordance with GAAP:(a ) trade, quantity and cash discounts, rebates, allowances or credits actuallygiven on such Milestone Product sold;(b ) amounts repaid or credited by reason of defect, rejection, recall, or return ofMilestone Product previously sold;(c ) distribution, transportation, importation, shipping, insurance, and otherhandling expenses directly chargeable to sales of such Milestone Product;(d ) retroactive price reductions or billing corrections for Milestone Productpreviously sold;(e ) amounts previously included in Net Sales of such Milestone Product thatare adjusted or written - off by Reversion Entity or its Affiliates or licensees as bad debt orotherwise uncollectible in accordance with the standard practices of Reversion Entity or itsAffiliates or licensees for writing off uncollectible amounts consistently applied ; provided, however, that if any such written - off amounts are subsequently collected, then such collectedamounts will be included in Net Sales in the period in which they are subsequently collected;and(f ) import taxes, export taxes, excises, sales taxes, value added taxes, consumption taxes, duties or other taxes imposed upon and paid ( excluding income or franchisetaxes of any kind ) allocated to sales of such Milestone Product in accordance with ReversionEntity ’s or such Affiliate ’s or licensee ’s standard policies and procedures consistently appliedacross its products, as applicable