definiens: means the gross amounts invoiced by [COMPANY], its Affiliates and Sublicensees for sales of a Licensed Product to independent or unaffiliated Third Party purchasers of such Licensed Product, less the following deductions with respect to such sales to the extent that such amounts are either included in the billing as a line item as part of the gross amount invoiced, or otherwise documented and pennitted in accordance with International Financial Reporting Standards ( IFRS ) to be specifically attributable to actual sales of a Licensed Product : ( i ) trade discounts, including trade, cash and quantity discounts or rebates, credits or refunds actually granted or allowed ; ( ii ) allowances or credits actually granted upon claims, returns or rejections of products, including recalls, regardless of the party requesting such recall ; ( iii ) credits and allowances for wastage replacement and bad debts ; ( iv ) charges included in the gross sales price for freight, insurance, transportation, postage, handling, insurance and any other charges to the Third Party purchaser specifically relating to the sale, transportation, delivery or return of the Licensed Product to or from such Third Party purchaser ; ( v ) customs duties, sales, excise and use taxes and any other governmental charges ( including value added tax ) actually paid in connection with the transportation, distribution, use or sale of the Licensed Product ( but excluding what is commonly known as income taxes ) ; ( vi ) rebates and chargebacks or retroactive price reductions made to federal, state, or local governments ( or their agencies ), or any Third Party payor, administrator or contractor, including managed health organizations ; ( vii ) inventory management fees, and ( viii ) commissions related to import or distribution of the Licensed Product paid to Third Parties ( excluding sales personnel, sales representative s and sales agents who are employees or consultants of the selling Party, its Affiliates or their respective Sublicensees )