Gross Operating Revenues
Gross Operating Revenues. Means the revenue of the Facility from all sources during the term of this Agreement, including ancillary revenues, prior to bad debt adjustment.
Gross Operating Revenues. All amounts, including cash, cash equivalents and the fair market value of non-cash consideration, received by Virgin in respect of the operation of any Licensed Spacecraft and all related space tourism activities, less: (i) refunds; and (ii) applicable value added or sales taxes, government-mandated exceptional taxes on incremental passenger revenues, but not including taxes based on net income or gross receipts of Virgin.
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