definiens: shall mean, for any period, the gross amount invoiced by aParty, its Affiliates and its permitted sublicensees for the sale of Licensed Product(s ) to ThirdParties ( the ), less deductions for : ( a ) normal and customary trade, quantity andcash discounts and sales returns and allowances actually allowed and taken, including ( i ) thosegranted on account of price adjustments, billing errors, rejected goods, damaged goods, returnsand rebates, ( ii ) administrative and other fees and reimbursements and similar payments towholesalers and other distributors, buying groups, pharmacy benefit management organizations, health care insurance carriers and other institutions, ( iii ) allowances, rebates and fees paid todistributors and ( iv)chargebacks ; ( b ) freight, postage, shipping, insurance and any otherdistribution expenses to the extent that such items are included in the gross amount invoiced ; ( c)customs and excise duties and other duties related to the sales to the extent that such items areincluded in the gross amount invoiced ; ( d ) rebates and similar payments made with respect tosales paid for by any governmental or regulatory authority such as, by way of illustration and notin limitation of the Parties ' rights hereunder, Federal or state Medicaid, Medicare or similar stateprogram or equivalent foreign governmental program . ; ( e ) sales and other taxes and dutiesdirectly related to the sale or delivery of Licensed Product(s ) ( but not including taxes assessedagainst the income derived from such sale ) ; ( 1 ) any other similar and customary deductionsactually allowed and taken that are consistent with GAAP, or in the case of non - United Statessales, other applicable accounting standards ; and ( g ) any such invoiced amounts that are notcollected by such Party, its Affiliates or its permitted sublicensees . Any of the deductions listedabove that involves a payment by such Party, its Affiliates or its permitted sublicensees shall beEx.ecution Draft : 07/25/01 - 8 -taken as a deduction in the Calendar Quarter in which the payment is accrued by such entity