Adjusted Gross Sales

Adjusted Gross Sales. Means the gross sales of Products to Third Parties less deductions for returns (including withdrawals and recalls), rebates (price reductions, including Medicaid, performance based and similar types of rebates e.g. chargebacks), volume (quantity) discounts granted at the time of invoicing, sales taxes and other taxes directly linked and included in the gross sales amount. Where page 1 of 35 ... (i) a Product is sold together with other goods (a "combined transaction") with or without a separate price for the Product; or (ii) the consideration for a Product shall include any non-cash element; or (iii) a Product is transferred in any manner other than as an invoiced sale, the Adjusted Gross Sales applicable to the quantity of such Product in any such transaction shall be deemed to be the average Adjusted Gross Sales for such quantity of such Product for all transactions of Product other than those in (i), (ii) or (iii) made at the time of such transaction in the country in which the transaction occurred. In the case of Roche or a Roche licensee, Adjusted Gross Sales of the Product will be as computed in the central Roche sales statistics for the countries concerned or a Roche licensee's comparable measure of sales, as applicable. In the case of Pozen, Adjusted Gross Sales of the Product will be based on the sales statistics of Pozen and its sublicensees. View More

Adjusted Gross Sales. Means gross revenues recognized (as determined under generally accepted accounting principles consistently applied) by the Company with respect to the Company's sale or other transfer of its products to a Person that is not an Affiliate of the Company, less any and all returns and allowances (eg., samples).

Adjusted Gross Sales. LICENSEE's gross receipts or the fair market monetary equivalent value of consideration received for or dependent upon LICENSED TECHNOLOGY, including PRODUCTS which are used, sold, leased, licensed or otherwise transferred by or for LICENSEE, its AFFILIATES, a SUBLICENSEE, or as otherwise authorized by the express written consent of LICENSOR to a property owner, lessor, lessee or manager, producer, distributor or END USER. ADJUSTED GROSS SALES will include receipts or consideration for... consulting, project planning and development, and other project costs that complete the objective of commercializing, marketing and selling the PRODUCTS as performed by LICENSEE, less all costs directly attributable to such use, sale, lease, license or transfer, including costs of goods sold, actually allowed and borne by LICENSEE or a SUBLICENSEE. Such qualifying costs shall include but not be limited to the costs of the following: A. Trade or quantity discounts actually allowed and taken in such amounts as are customary in the trade; B. Sales and/or use and excise taxes directly imposed with reference to particular sales; and, C. Costs of goods sold, No deductions shall be made for payments to third parties as commissions paid to individuals, whether they are regularly employed by LICENSEE or by independent sales agents, or for the cost of collections. For purposes of calculating "ADJUSTED GROSS SALES", the Products shall be considered sold, licensed or transferred when payment has been received. View More