definiens: means the gross invoiced amount ( or otherwise received ) by Company or Sublicensee from Distributors, customers, end usersand other Third Parties for sales, leases, and other dispositions of Licensed Products, less ( a ) all trade, quantity, and cash discounts andrefunds actually allowed, including administrative fees and inventory management fees actually paid to, or on behalf of customers withrespect to Licensed Products ( including those granted to managed - care entities and government agencies as well as entities that managepatient drug benefits ), ( b ) all credits and allowances actually granted due to rejections, returns, recalls, rebates, charge backs, volumediscounts, billing errors, retroactive price reductions, ( c ) tariffs, duties and similar governmental charges, including Health Care Reform taxesand similar payments imposed by regulatory authorities or other governmental entities, ( d ) excise, sale and use taxes, and equivalent taxesto the extent not reimbursable, ( e ) freight, transport, packing, handling, and insurance charges associated with transportation, but only ifseparately stated on the same invoice as for the sale, lease or other disposition of the Licensed Product, and ( f ) an allowance foruncollectible or bad debts determined in accordance with accepted accounting principles, standards and procedures ( ) or InternationalFinancial Reporting Standards ( ) consistently applied across all products sold by Company, provided Company shall providedocumentation upon University ’s request that the allowance accurately represents the level of uncollectible or bad debt . On sales ofLicensed Products by made in other than an arm ’s length transaction, the value of the Net Sales attributed to such transaction will be equalto the Net Sales that which would have been received in an arm ’s length transaction, based on sales of like quantity and quality of LicensedProducts sold on or about the time of the transaction . Net Sales does not include sale, lease, disposition or other transfer of LicensedProducts among or between Company, Subsidiaries and Sublicensees for the purpose of subsequent resale to a Third Party, but doesinclude subsequent resale to such Third Party . For avoidance of doubt Net Sales are calculated on sales by Company or Sublicensee toDistributor, and not on the subsequent sale by Distributor