Net Direct Sales definition
Net Direct Sales means the gross amount of Licensed Direct Sales of Licensed Products in U.S. dollars at the retail selling price; no deductions shall be made for costs incurred in manufacturing, selling (including without limitation credit card processing fees, chargebacks and similar fees and charges), distributing, advertising (including affiliate and other commissions), or for uncollectible accounts. “Net Indirect Sales” means the gross amount of Licensed Indirect Sales of Licensed Products in U.S. dollars at the invoiced selling price net normal and reasonable cash and quantity discounts and returns for credit; no deductions shall be made for costs incurred in manufacturing, selling, distributing, advertising (including cooperative and promotional allowances), or for uncollectible accounts.
Examples of Net Direct Sales in a sentence
Royalty: 1.5 % (Exclusive) or 0.75% (Nonexclusive) of Licensee’s Net Direct Sales of Licensed Product(s) or Process(es) excluding sales to public sector institutions or to institutions using public-sector funds (such as PEPFAR or Global Fund) Sublicense: Milestone Payments: None.