definiens: means, with respect to a given period of time, the gross amount invoiced by Reneo or any of its Affiliates or Sublicensees ( each, a ) to any Third Party ( other than another Selling Party, unless such Selling Party is the end user of the applicable Licensed Product ) for the sale or d istribution to such Third Party of any Licensed Product, less the following deductions and offsets that are actually incurred, allowed, accrued, paid or taken and are allocated w ith respect to such sale or distribution, but solel y to the extent that such deductions or offsets are not otherwise r ecovered by or reimbursed to any Selling Party : ( a ) trade, cash and quantity discounts, allowances and credits based on the invoiced price or net price to Third Party purchasers, including c ash coupons, inventory management fees and retroact i ve price reductions ; ( b ) credits, refunds or allowances actually granted for damaged or expired Licensed Product, returns or rejections of Licensed Product, recalls, reserve for returns, price adjustments an d billing errors, in each case not in excess of the selling price of Licensed Product ; ( c ) rebates, chargebacks and discounts ( or equivalents thereof ), based on the invoiced price or net price to Third Party purchasers, granted to managed health care organizations, commercial insur ance companies, pharmacy benefit managers ( or equivalent s thereof ), distributors, federal, state / provincial, local and other governments, their agencies and purchasers an d reimbursers, or to trade customers ; ( d ) transportation costs, including insurance, for outb ound freight related to delivery or distribution of Licensed Product ; ( e ) bad debts and uncollectible amounts relating to the sale of Licensed Product that are actually written off ; and ( f ) sales taxes, duties and other governmental charges ( including value added tax, but solely to the extent not otherwise creditable or reimburse d ) imposed upon and paid with respect to the sale, transportation, delivery, use, exportation, or importation of Licen sed Product ( but excluding what is commonly known a s income taxes and taxes or charges required by U.S. Federal or state Medicaid, Medicare or similar state progr am or equivalent foreign governmental program )