definiens: shall mean, for any period, the gross a mount invoiced by the World Class Sublicensee or an y of its affiliates or sublicensees for the sale of Eligible Products in the territory licensed to the World Cl ass Sublicensee, less deductions for : ( a ) normal and customary trade, quantity and cash discounts and sales returns and allowances, including those granted on account of p rice adjustments, billing errors, rejected goods, d amaged goods and returns, administration fees and chargeba cks ; ( b ) freight, postage, shipping and insurance e xpenses to the extent that such items are included in the gros s amount invoiced and relate to outbound shipping f rom the place of manufacture to the purchaser ; ( c ) customs and excise duties and other duties related to the s ales, to the extent that such items are included in the gross am ount invoiced ; and ( d ) rebates and similar payments made with respect to sales paid for by any governmental or regulatory authority such as, by way of illustra tion and not in limitation of the Parties ’ rights hereunder, Fed eral or state Medicaid, Medicare or similar state p rogram or equivalent foreign governmental program . Any of the deductions listed above that involves a payment by or on behalf of the World Class Sublicensee or any of its affiliates or sublicensees shall be taken as a ded uction in the Calendar Quarter in which the payment is accrued by the World Class Sublicensee, its affiliate or subl icensee, as the case may be . For purposes of determining Net Sa les, an Eligible Product shall be deemed to be sold when invoiced . The transfer by the World Class Sublicens ee or any of its affiliates or any of its sublicens ees of Eligible Product to the World Class Sublicensee, an y of its affiliates or any of its sublicensees shal l not result in any Net Sales nor shall transfers or dispositions o f Eligible Product for pre clinical or clinical pur poses or as samples, in each case without charge, result in any Net Sales . Net Sales shall be calculated using Int ernational Financial Reporting Standards, consistently applied