definiens: means each three - month period beginn ing on January 1, April 1, July 1 and October 1 . Th e term means the consideration received or exp ected from, or the fair market value attributable t o, each Sale, less Qualifying Costs that are directly attri butable to a Sale, specifically identified on an in voice or other documentation and actually borne by Company or its Affiliates or sublicensees . For purposes of determi ning Net Sales, the words mean the cash 4 consideration that Company or its Affiliates or sub licensees would realize from an unrelated buyer in an arms length sale of an identical item sold in the same q uantity and at the time and place of the transactio n. The term means : ( a ) customary discounts i n the trade for quantity purchased or for wholesale rs and distributors ; ( b ) credits or refunds for claims or returns that do not exceed the original invoice amo unt ; ( c ) Company ’s bad debt actually written off, net of subsequent recoveries ; ( d ) prepaid outbound transp ortation expenses and transportation insurance premiums ; ( e ) sales and use taxes and other fees imposed by and indefeasibly paid to a governmental agency ; and ( f ) Licensed Products provided at or below cost for in digent care or patient assistance programs or administered in clinical trials, except when the recipient is c harged for such product ; provided that such Licensed Products do not represent more than [ * * * ] of Sales . A Sale is deemed completed at the time that Company or its Affiliate or sublicensee invoices, ships or receives payment for a Licensed Product, whichever occurs first . The term means each three - month period beginning on January 1, April 1, July 1 and October 1