definiens: means with respect to Product and Royalty Bearing Product on a Product - by - Product andRoyalty Bearing Product by Royalty Bearing Product basis, the gross sales accrued in a particular period for financialreporting purposes of any and all Products and Royalty Bearing Product sold by a Selling Party or its Affiliates to aThird Party and included in reported net sales under GAAP after deducting for the following sales allowances andexpenses directly related to gross sales of the applicable Product or Royalty Bearing Product, as determined by suchParty under GAAP, if not previously deducted, from the gross sales amount invoiced:(a ) trade, quantity and/or cash discounts, allowances or rebates, includingpromotional, service or similar discounts or rebates and discounts or rebates to governmental or managed careorganizations, to the extent actually given or allowed;(b ) credits or allowances with respect to Products or Royalty Bearing Products byreason of rejection, defects, recalls or returns, or chargebacks;(c ) any tax, tariff, duty or government charge ( including any sales, value added, excise or similar tax or government charge, but excluding any income tax ) levied on the sale, transportation ordelivery of any Product or Royalty Bearing Product;(d ) a reasonable allowance for bad debt;(e ) any charges for freight, postage, shipping or transportation, or for insurance ( if andto the extent included in the amount invoiced to the Third Party ) ; and11(f ) any administrative fees owed to group purchasing organizations or managed careentities for sale of such Products or Royalty Bearing Products