definiens: means any monies or non - monetary consideration ( including securities ) receivable from time to timeby the Company or any of its Affiliates in respect of : ( i ) any sub - licence granted by the Company orany of its Affiliates under this Agreement ; ( ii ) any licence granted by the Company or any of itsAffiliates ( whether under the Company Intellectual Property or otherwise ) to sell Licensed Productsanywhere in the Territory ; and/or ( iii ) the grant of the right to acquire such a sub - licence or licence, including, in each case, option fees, licence issue fees or other up - front payments, annual licencefees, milestone or other lump sum payments which are attributable to the grant of the rights inquestion, excluding royalties and Net Sales Value as referred to in Clause 4.4 ( in the case of non - monetary Sub - Licence Revenue such as company stocks and shares, such non - monetaryconsideration shall not form Sub - Licence Revenue until Company or relevant Affiliate has receivedcash proceeds from the disposal or other realisation of such consideration . [ * * * ] means any person who is granted : ( i ) a sub - licence in accordance with Clause 2.3 in respect of therights granted under this Agreement ( and any further tiers of sub - licence thereunder ) ; and/or ( ii ) alicence by the Company ( whether under the Company Intellectual Property or otherwise ) to sellLicensed Products anywhere in the Territory, but shall not mean distributors, wholesalers, and salesagents ( sales to whom will be sales for the purpose of Net Sales Value )