definiens: means the gross amounts invoiced on sales of a Li censed Product by JJEI, or any of its Affiliates or Sublicensees ( excluding any Third Par ty distributor or Compulsory Sublicensee ) to a Thir d Party purchaser ( including any Third Party distributor ), less the following customary and commercially reaso nable deductions ( without duplication ), determined in acc ordance with GAAP and internal policies and actuall y taken, paid, accrued, allocated, or allowed based on good faith estimates : a. trade, cash, or quantity discounts, allowances a nd credits, excluding commissions for Commercialization ; b. excise taxes, use taxes, tariffs, sales taxes an d customs duties, or other government charges imposed on the sale of Licensed Product ( including VAT, but only to the extent that such VAT taxes are not reimbursable or refundable ), specifically excluding, for clarity, any income taxes assessed against th e income arising from such sale ; c. compulsory or negotiated payments and cash rebat es or other expenditures to Governmental Authorities ( or designated beneficiaries thereof ) i n the context of any national or local health insur ance programs or similar programs, including pay - for - performance agreements, risk sharing agreements as well as gove rnment levied fees as a result of the Affordable Care Act and other similar legislation and foreign equivalen ts ; d. rebates, chargebacks, administrative fees, and d iscounts ( or equivalent thereof ) to managed health care organizations, group purchasing organiz ations, insurers, pharmacy benefit managers ( or equ ivalent thereof ), specialty pharmacy providers, Governmenta l Authorities, or their agencies or purchasers, rei mbursers or trade customers, as well as amounts owed to pati ents through co - pay assistance cards or similar for ms of rebate to the extent the latter are directly relate d to the prescribing of the Licensed Product ; e. outbound freight, shipment, and insurance costs to the extent included in the price and separately itemized on the invoice price ; f. retroactive price reductions, credits, or allowa nces actually granted upon claims, rejections, or returns of Licensed Product, including for recalls or damaged or expired goods, billing errors and res erves for returns ; g. any invoiced amounts that are not collected by t he selling Party or its Affiliates, including bad debts, unless otherwise recovered ; and h. any deductions in the context of payments that a re due or collected significantly after invoice issuance, provided that such payments are included in revenue, if collected