definiens: shall mean the gross amount invoiced in arm’s - length Sales in the Territory byLicensee, its Affiliates and sublicensees to Third Parties, less the following deductions from suchgross amounts which are actually incurred, allowed, accrued or specifically allocated to suchLicensed Product, all as determined in accordance with GAAP:(i ) credits, price adjustments or allowances for damaged products, returns orrejections of Product;(ii ) normal and customary trade, cash and quantity discounts, allowances andcredits ( other than price discounts granted at the time of invoicing which have already beenincluded in the gross amount invoiced);(iii ) chargeback payments, repayments and rebates ( or the equivalent thereof)granted to or imposed by group purchasing organizations, managed health care organizations orfederal, state / provincial, local and other governments, including any or all of their regulatoryauthorities, agencies, review boards or tribunals, or trade customers;(iv ) any invoiced freight, postage, shipping, insurance and other transportationcharges ; 4 100004170(v ) sales, value - added ( to the extent not refundable in accordance with applicablelaw ), and excise taxes, tariffs and duties, and other taxes directly related to the sale ( but notincluding taxes assessed against the income derived from such sale);(vi ) stocking allowances ; and(vii ) any other payment which reduces gross revenue and is permitted to bededucted in calculating net sales in accordance with GAAP