Common use of Gross Merchandize Value Clause in Contracts

Gross Merchandize Value. (GMV) means Customer’s and its Affiliates’ total annual sales gross revenue for products or services that are purchased through Cloud Service platforms by End Users in a given Contract Year. Gross Merchandise Value shall exclude any shipping, handling and other costs charged to End Users. Any taxes, including VAT, along with any financing charges and interest for installments charged to End Users as part of any transaction shall also be excluded. Returns, refunds, cancellations, or credits granted by Customer or its Affiliates to End Users will not reduce the GMV amount.