Net Sales definition

Net Sales means [***].

Net Sales means:

Net Sales means, with respect to any Licensed Product, the gross amounts invoiced or received (whichever first occurs) by Licensee, its Affiliates, and Sublicensees (other than Third Party Distributors) for sales of such Licensed Product to Third Parties (including Third Party Distributors), less the following deductions, to the extent such deductions are paid, incurred, or otherwise taken, reasonable and customary, provided to Third Parties, and actually allowed with respect to such sales:

Examples of Net Sales in a sentence

• Except as otherwise agreed to by the parties, any recovery realized as a result of any infringement proceeding or other action with respect to any Advaxis HER2 Construct Patent pursuant to Section 8.4(b), after reimbursement of any litigation expenses of Advaxis and OST, shall be (i) provided to, or retained by, as applicable, by OST and (ii) treated as Net Sales of a Licensed Product for purposes of royalty calculations in the period in which payment of such recovery was received.

• Within sixty (60) days after the end of each Calendar Quarter, commencing upon the Calendar Quarter in which the First Commercial Sale occurs, Licensee shall deliver to BlinkBio a report (a “Royalty Report”) setting out, on a country-by-country and Selling Entity-by-Selling Entity basis: (i) gross sales of Products in the relevant Calendar Quarter, (ii) the calculation of Net Sales of Products from such gross sales, including itemization of permitted deductions; and (iii) the total royalties due.

• For three (3) years after the end of each Calendar Year, each Selling Entity will keep complete and accurate records of its Net Sales in such Calendar Year and any records relevant to the calculation of royalties payable to BlinkBio in respect of such Net Sales in sufficient detail to allow an auditor to confirm the accuracy of the relevant royalty reports and royalty payments hereunder.

• At the time of FSD’s remittance of each payment for amounts due under Section 3.1, FSD shall furnish Prismic with a report showing (i) the type and total number of Products sold by FSD during the calendar year covered by the report, (ii) the gross invoiced selling price of all Products sold by FSD during such calendar year, (iii) the total adjustments to Net Sales, (iv) the total adjustments to the amount owed and (v) any other information reasonably requested by Prismic.

• On a Product-by-Product and country-by-country basis during the Royalty Term, in a country in which no Valid Claim Covers the manufacture, use or sale of a Product, the royalty on Net Sales of such Product in such country shall be reduced to three percent (3%).

More Definitions of Net Sales

Net Sales means all gross revenue derived by ***** or sublicensees, their distributors or designees, from the sale, transfer or other disposition of Licensed Product to an end user. Net Sales excludes the following items (but only as they pertain to the making, using, importing or selling of Licensed Products, are included in gross revenue, and are separately billed):

Net Sales means, with respect to any Product, the gross amounts invoiced for sales or other dispositions of such Product by or on behalf of Collaborator and its Affiliates and Sublicensees to Third Parties in the Collaborator Territory, less the following deductions to the extent included in the gross invoiced sales price for such Product or otherwise directly paid or incurred by Collaborator or its Affiliates or Sublicensees, as applicable, with respect to the sale or other disposition of such Product:

Net Sales means, with respect to the Product, the gross amount invoiced by Licensee or its Affiliates or Sublicensees for sales or other disposition of the Product in the Territory, less deductions for: (i) transportation charges, including insurance actually paid; (ii) sales and excise taxes and duties paid or allowed by a selling party and any other governmental charges imposed upon the production, inspection, use or sale of the Product; (iii) any distributors fees, rebates or allowances, quantity or cash discounts, chargebacks, or fees actually granted in the ordinary course of business; and (iv) allowances or credits to customers, not in excess of the selling price of the Product, on account of governmental requirements, rejection, outdating or return of the Product. For the purpose of calculating Net Sales, the Parties recognize that Licensee’s, its Affiliates’ or Sublicensees’, customers may include parties in the chain of commerce who enter into agreements with Licensee, its Affiliates or Sublicensees, as to price even though legal title to the Product does not pass directly from Licensee, its Affiliates or Sublicensees, to such customers, and even though payment for such Product is not made by such customers to Licensee, its Affiliates or Sublicensees, and that in such cases, chargebacks paid by Licensee, its Affiliates and Sublicensees, to or through a Third Party (such as a wholesaler) can *** INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. be deducted from gross revenues in order to calculate Net Sales. Sales between Licensee and its Affiliates shall be excluded from the computation of Net Sales, except where such entities are end users, in which case Net Sales shall include sales between Licensee and its Affiliates; provided, however, that if said Affiliates are using such Product solely for research or clinical testing purposes, indigent or other public support programs, then such sales between Licensee and said Affiliates shall be excluded from the computation of Net Sales. Upon the sale or other disposal of the Product (other than in a bona fide arms length transaction exclusively for money) or upon any use of the Product for purposes which do not result in a disposal of the Product in consideration of sales revenue customary in the country of u...

Net Sales means the gross amounts invoiced by Licensee or its Affiliate for sales of Licensed Products to Customers, less the sum of the following actual and customary deductions:

Net Sales means [***]

Net Sales means, with respect to a Licensed Product, the gross amount invoiced or billed on sales of such Licensed Product in the Territory by a Selling Party to any Third Party in bona-fide, arms’-length transactions, less [***]:

Net Sales means, with respect to a Product, the gross amount invoiced by a Party, its Affiliates or Sublicensees thereof to unrelated Third Parties, excluding any Sublicensee, for the Product, less: