GTC Revenue definition
GTC Revenue means the gross receipts of GTC, its Affiliates and sublicensees from the sale of GTC Products to any person or entity which is not GTC, its Affiliates and sublicensees provided that gross receipts shall not include amounts repaid or credited for rejection or return of GTC Products, custom duties and charges, sales or other excise taxes or other governmental charges levied on or measured by sales and further provided that with respect to sales of GTC Products by GTC to Genzyme Corporation or an Affiliate thereof, PHARMING and GTC shall reasonably agree on a fair transfer price for such GTC Products or, if the parties are unable to agree on such a price then the price shall be determined pursuant to arbitration as set forth in Section 11.6 of this Agreement. ------------------------ * Confidential Treatment has been requested for the marked portion.