definiens: of an entity for any period shall mean such entit y ’s cash collections ( or, in the case of consideration that is not in the form of cash, the fair market value t hereof as determined in good faith by Novocure ’s board of dir ectors, or as reflected in the books of the applica ble entity, the higher of the two ) from worldwide gross sales, services, licensing and other transactions ( determi ned on a consolidated basis excluding intra - Novocure Group t ransactions ) during such period ( excluding sales or reimbursements in connection with clinical trials ), less the following amounts : ( i ) cash rebates actually paid to customers in resp ect of amounts previously collected from such customers for volume purchases, advertising, t rade promotion, or other accommodations ; 2 ( ii ) cash refunds actually paid to customers in res pect of amounts previously collected from such customers in connection with the rejection, re call or return of previously sold products ; ( iii ) shipping, freight charges and insurance which are separately identified on the applicable invoice and paid by customers in connection with sh ipment and delivery ; and ( iv ) duties and taxes or other governmental charges levied on or measured by the invoiced amount ( including without limitation value added ta x ), which are separately identified on the applicab le invoice ( or otherwise independently established ) an d paid by customers