Net Partner Sales

Net Partner Sales. Shall mean the gross amount or any other payment received by a Partner for the sale of Transgenic rhAFP Product to any person, firm or entity other than Merrimack or an Affiliate of Merrimack or such Partner, less the following: (i) customary trade, quantity, or cash discounts to the extent actually allowed and taken; (ii) amounts repaid or credited by reason of rejection or return; (iii) to the extent separately stated on purchase orders, invoices, or other... documents of sale, any taxes or other governmental charges levied on the ion, sale, transportation, delivery, or use of Transgenic rhAFP Product which is paid by or on behalf of such Partner; and (iv) outbound transportation costs prepaid or allowed and costs of insurance in transit; and 6 Confidential material omitted and filed separately with the Securities and Exchange Commission. Asterisks denote such omissions. (v) any transfer price payable to GTC or any of its Affiliates for the purchase of Transgenic rhAFP Product by such Partner or any of its Affiliates. No deductions shall be made for commissions paid to individuals whether they are with independent sales agencies or regularly employed by such Partner and on its payroll, or for cost of collections. In the case of a Combination Product, Net Partner Sales shall be calculated in the same manner as is used to calculate Net Revenues in connection with such Combination Product. View More