Wholesale Sales

Wholesale Sales. Shall mean the gross invoice amount billed customers and actually received by or on behalf of Licensee (in the applicable currency of all sales of all Products sold by Licensee including discontinued, discounted and surplus sales), less (without double counting) discounts, credits, chargebacks, markdowns, and reasonable and customary allowances actually allowed customers, as reflected in the invoice itself (or other supporting documentation) and net of all returns actually made or allowed as... supported by credit memos issued by customers. If sales are made to any party controlled by, controlling, under common control or otherwise affiliated with or related to Licensee, such sales shall be computed based upon the regular wholesale price for such Products charged to unrelated third parties if such regular wholesale price is higher than what is actually charged. No costs incurred, including but not limited to those incurred by Licensee, customers or other third parties, in the manufacturing, selling, marketing, advertising or distributing of the Products shall be deducted. All transactions shall be at arm's length for fair market value. View More