Net Sales Value definition

Net Sales Value means, with respect to any Licensed Product, the gross sales price of such Licensed Product invoiced by Licensee, its Affiliate and/or its Sub-Licensee to customers who are not Affiliates (or are Affiliates but are the end users of such Licensed Product) less, to the extent actually paid or accrued by Licensee, its Affiliate and/or its Sub­ Licensee (as applicable), (a) credits, allowances, discounts and rebates to, and chargebacks from the account of, such customers for nonconforming, damaged, out-dated and returned Licensed Product; (b) freight and insurance costs; (c) cash, quantity and trade discounts, rebates and other price reductions for such Licensed Product given to such customers under price reduction programs; (d) sales, use, value-added and other direct taxes incurred on the sale of such Licensed Product to such customers; (e) customs duties, tariffs, surcharges and other governmental charges incurred in exporting or importing such Licensed Product to such customers; (f) sales commissions incurred on the sale of such Licensed Product to such customers; and (g) an allowance for uncollectible or bad debts determined in accordance with generally accepted accounting principles. For avoidance of doubt, any consideration or royalties received from Sub-Licensee(s) are excluded. If a Licensed Product consists of components that are covered by valid claim of a Prospective Patent within the Invention (a “Covered Component”) and components that are not covered by a Valid Claim (“Other Components”), then Net Sales for such Licensed Products shall be multiplied by the fraction A/(A+B), where A is the value of the Covered Component(s) as reasonably determined by Licensee, and B is the value of the Other Component(s) as reasonably determined by Licensee, and such resulting amount shall be the “Net Sales Value” for purposes of the Royalties and Sub-License Royalties calculations in Clauses 5.1.2 and 5.3.1, respectively, for such Licensed Product.

Net Sales Value means, in relation to Licensed Product: the gross amount invoiced by the Company or Sub-Licensee or Affiliate of the Company or a Sub-licensee less any value added tax or other sales tax, transport charges (including transport insurance) and costs of packaging to the extent that any of those items are included as separate items in the amount so invoiced, and after deducting any allowances for lost or damaged items or permitted returns, and discounts allowed and rebates given in the normal course of trade, and in the event of more than one such sale, the first such sale;

Net Sales Value means the gross receipts from sales of PRODUCT in the TERRITORY by SB and/or its AFFILIATES and/or its sublicensees and/or its distributors to THIRD PARTIES less the following deductions :

Examples of Net Sales Value in a sentence

• Royalties due under this Agreement shall be paid within thirty (30) days of the end of each quarter ending on 31 March, 30 June, 30 September and 31 December, in respect of sales or other supplies of Licensed Products made and Net Sales Value generated during such quarter and within thirty (30) days of the termination of this Agreement.

• No Yes Yes Zambia No Yes Yes Zimbabwe No Yes Yes ROYALTY FEE FOR ROYALTY COUNTRIES: The royalty fee payable under Clause 9 for Licensed Product sold or otherwise supplied for use in the Public Market of a Royalty Country is five per cent (5%) of the Net Sales Value of such Licensed Product.

• The Licensee shall pay to the University a royalty of [●] per cent ([●]%) of the Net Sales Value of all Licensed Products, or any part thereof, sold, licensed or otherwise supplied by Licensee or its Affiliates.

• Upon termination of this Agreement for any reason the provisions of Clauses [3, [5 (in respect of Net Sales Value and Net Receipts generated prior to termination or under clause 9.4(a)(i))], 8.4, 8.5, 8.6, 8.7, 9.4 and 10] shall remain in force.

• Upon termination of this Agreement for any reason the provisions of Clauses [3, 5 (in respect of Net Sales Value generated prior to termination or under Clause 7.3(a)(i)), 6.4, 6.5, 6.6, 6.7, 7.3 and 8] shall remain in force.

More Definitions of Net Sales Value

Net Sales Value means the aggregate consideration, including royalties (excluding up-front payments, milestone payments, refunds, credits, grant or research funding or equity investment) received from third party customers from the sale of a Licensed Product, less normal trade discounts actually granted, refunds, credits, chargebacks, allowances, insurance, freight, or any relevant tax, duties or similar government levies. For avoidance of doubt, any consideration or royalties received from Sub-licensee(s) are excluded.

Net Sales Value means gross sale price of the Licensee or its Affiliates (or any person acting on their behalf) to their customers multiplied by the number of units sold less value of the sales taxes, returned/rejected products, clearing and forwarding, freight and insurance charges.

Net Sales Value of any product means the actual xxxxxxxx for the SALE or USE of a product less the deductions identified below.

Net Sales Value means the invoiced sales price of the Products after taking the deductions specified in Schedule One attached to and incorporated by reference in this Agreement.

Net Sales Value means the gross invoice price for sales on an arm’s length basis of Covion Products by Covion or any Covion Licensee to any third party (i.e. an entity other than Covion or a Covion Licensee), less

Net Sales Value means that sum determined by deducting from the gross amount billed and collected by the SELLER (LICENSEE, SUBLICENSEE or AFFILIATE) in an arms length transaction to customers that are not AFFILIATES of the SELLER;

Net Sales Value means in relation to any Products, the price actually charged to the customer therefor (less any value added or other sales tax thereon included in the price).