definiens: shall mean, Iror any period, the gross amount invoiced by Myriad and ! its Affiliates, from the sale to Third Parties of Licensed Product ( the ), less deductions for : ( a ) normal and customary quantity andlor cash discounts and sales returns and allowances, including, without limitation, those granted on account of price adjustments, billing errors, rejected goods, damaged goods, returns, rebates actually allowed and taken, administrative or other fees or reimbursements or similar payments to wholesalers or other distributors, buying groups, pharmacy benefit management organizations, health care insurance carriers or other institutions, fees paid to distributors and chargebacks ; ( b ) freight, . postage, shipping, and insurance expenses ( if separately identified in such invoice ) ; ( c ) customs or excise duties or other duties directly imposed and related to the sales making up the gross invoice amount ; ( d ) any rebates or similar payments made with respect to sales paid for by any governmental or regulatory authority such as, by way of illustration and not in limitation of the parties ' rights hereunder, Federal or state Medicaid, Medicare or similar state program or equivalent foreign governmental program ; ( e ) sales and other taxes and duties directly related to the sale, to the extent that such items are included in the gross invoice price ( but not including taxes assessed against the income derived from such sale ) ; and ( f ) < any such invoiced amounts that are not collected by Myriad or its Mfiliates which are over a 180 days past due and are recorded on the books of Myriad as bad debt in accordance with generally accepted accounting principles . Any of the deductions listed above that involves a payment by Myriad or " its Affiliates shall be taken as a deduction in the Fiscal Quarter in which the payment is made by such entity . For purposes of determining Net Sales, the Licensed Product shall be deemed to be sold when invoiced, shipped, or payment is received, whichever is earliest, and a shall not include transfers or dispositions for charitable, promotional, pre - clinical, clinical, regulatory, or governmental purposes