Net Sales. The term “
Net Sales. The term “Net Sales” shall mean the gross amounts invoiced by Company and/or its Affiliates (but not by Sublicensees or Partners) on all sales of Company Products, less the following items, as applicable to such Company Products:
Net Sales. The term “Net Sales” shall mean the gross amounts invoiced by Licensee and its Sublicensees, or any of them, on all sales of Products, less the following items, to the extent directly applicable to such sales of Products (if not previously deducted from the amount invoiced): (a) reasonable and customary trade, quantity and cash discounts actually granted and authorized wholesaler chargebacks actually paid or credited by Licensee or Sublicensee to wholesalers of Products; (b) reasonable and customary rebates and retroactive price reductions actually granted; (c) credits or allowances actually granted upon claims of nonconforming Products, rejections or returns of Products including recalls; (d) freight charges for the delivery of Products; (e) the portion of the administrative fees paid during the relevant time period to group purchasing organizations, pharmaceutical benefit managers and/or government-mandated Medicare or Medicaid Prescription Drug Plans relating specifically to the Product; and (f) sales, use or excise taxes imposed and actually paid in connection with the sale of Products (but excluding any value added taxes or taxes based on income or gross receipts). Net Sales shall include all consideration charged by Licensee or Sublicensees in exchange for any Products, including without limitation any monetary payments or, with regard to any other property paid in exchange for any Products, an amount in cash equal to the fair market value of such property. For purposes of determining Net Sales, a sale shall be deemed to have occurred when an invoice therefor is delivered or generated, or when the Product is shipped for delivery, whichever occurs first. Sales of Products by Licensee to a Sublicensee or Affiliate for resale or by a Sublicensee to an Affiliate of Licensee for resale shall be excluded, and only the subsequent sale of such Products by such Affiliates or Sublicensees to unrelated parties shall be deemed Net Sales hereunder. Net Sales shall not include transfers or dispositions for [***]. The deductible items listed in sub-clauses (a)-(f) above shall be either (i) included as line items on the invoice, or (ii) documented as being specifically attributable to actual sales of Products in accordance with United States Generally Accepted Accounting Principles (“GAAP”) or International Financing Reporting Standards (“IFRS”), as applicable, consistently applied throughout the organization of the selling party, and provided that such amounts are ...
Net Sales. The total proceeds from the sale of Product and Other Agreed Upon Technologies sold by the Corporation in normal, bona fide commercial transactions on an arm’s length basis to, by, with, or through an entity which is not affiliated with any Party of this Agreement, less the following items: (i) sales discounts (including sales rebates); (ii) sales returns; (iii) shipping and transaction costs, such as Value Added Tax, CIF charges and packaging expenses; and (iv) sales commissions to third parties.
Net Sales. Net Sales" shall mean the gross billing price PhytoMedical, its subsidiaries and sublicensees charge to their customers for Licensed Products, less sales, use, occupation and excise taxes, and transportation, discounts, returns and allowances in lieu of returns.
Net Sales. For purposes of this Agreement, “NET SALES” is defined as the gross sales of LICENSED PRODUCTS by LICENSEE or an Affiliate of LICENSEE less (i) actual returns, discounts, allowances, rebates, handling fees, stocking fees, slotting fees, damages and shortages supported by credit memoranda, provided that trade discounts and allowances shall not to exceed [———-]2 of aggregate sales of LICENSED PRODUCTS in any CONTRACT YEAR and (ii) if separately stated, any charges for packaging, shipping and insurance, and any sales, use and excise taxes included (including VAT) in the gross sales price. In addition, NET SALES shall not include the sales of LICENSED PRODUCTS to LICENSOR RETAIL STORES, or testers or samples. Except for the foregoing, any sales or transfers of LICENSED PRODUCTS made by LICENSEE or an Affiliate of LICENSEE to a non-Affiliate of LICENSEE shall be computed, for the purpose of determining NET SALES, at an amount equal to the greater of (x) the actual sales price and (y) the price at which LICENSEE would have invoiced or charged purchasers which deal at arm’s length with LICENSEE. Sales or other transfers of LICENSED PRODUCTS by LICENSEE to an Affiliate of LICENSEE shall not be counted as NET SALES and, instead, the sales or other transfers of LICENSED PRODUCTS by such Affiliate to a non-Affiliate of LICENSEE shall be included in the NET SALES calculation and shall be documented by LICENSEE for all purposes under this Agreement. A sale shall be deemed to take place when the LICENSED PRODUCTS are shipped.
Net Sales. “Net Sales” shall mean the gross consideration actually received or collected by NewLink and/or any Affiliate from the transfer, sale or other commercial distribution of any Licensed Product to a third party customer, less:
Net Sales. Gross Sales excluding sales and use taxes.
Net Sales. The gross proceeds received by the Company from the commercial exploitation of the Polymer Recycling Technology and any Other Agreed Upon Technologies in normal, bona fide commercial transactions on an arm’s length basis to, by, with, or through an entity which is not affiliated with any Party to this Agreement, less (i) sales discounts (including sales rebates); (ii) sales returns; (iii) shipping and transaction costs, such as Value Added Tax, CIF charges and packaging expenses; and (iv) sales commissions to third parties.
Net Sales. Net Sales accrue with the earlier of invoice or provision of Product, whether by sale, lease, transfer, performance or otherwise. Within [***] after the end of each Royalty Period, Licensee shall pay University royalties on Net Sales accruing in such Royalty Period in the percentages set forth on Schedule 1. Royalty payments on Net Sales made to University may be credited toward the Annual Minimum for the License Year in which the royalty payment accrues, and only for that License Year.
