definiens: means amounts actually received by RedHill or its Affiliates in respect of the sale of a Product by RedHill or its Affiliates, less, an d following recovery of, the following items ( colle ctively, the ) as considered under International Accounting Sta ndards ( IFRS ): ( i ) allowances or credits granted to and taken by customers ( including wholes alers ) for rejections, returns ( including as a result of recalls ), and pro mpt payment and trade, cash and volume discounts or resulting from inventory management ( ii ) amounts incurred resulting from go vernment mandated rebate programs ( or any agency th ereof ) ; ( iii ) freight, transport, packing and insurance charges ; ( iv ) taxes, including value added tax, tariffs or import /export or customs, duties ; ( v ) rebates, charge backs and discounts paid or credited ; Notwithstanding the foregoing, for the purposes of this definition, the transfer of a Product by RedHi ll or one of its Affiliates to another Affiliate of RedHi ll or to a sublicensee for resale is not a sale and in such cases, Net Sales will be determined based on the amount receiv ed by RedHill or such Affiliate in respect of the P roduct as sold by the Affiliate or sublicensee to independent third - parties, less the Recognized Deductions