Net Sales Statement

Example Definitions of "Net Sales Statement"
Net Sales Statement. A written statement of Parent, certified by the Chief Financial Officer of Parent, setting forth Net Sales for the applicable period and with reasonable detail (a) an itemized calculation of the gross amounts invoiced by the Selling Entities for the Product sold to third parties other than any other Selling Entity, (b) an itemized calculation of the Permitted Deductions, and (c) to the extent that sales for the Product are recorded in currencies other than United States dollars, the exchange... rates used for conversion of such foreign currency into United States dollars. The Net Sales Statement shall be calculated in accordance with International Financial Reporting Standards and shall be derived from the audited financial statements of Parent. View More
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