Net Sales of the Products definition

Net Sales of the Products for each Quarterly Royalty Period means the aggregate amount of gross sales by the Purchaser of the Products to third parties during the relevant Quarterly Royalty Period (determined in accordance with GAAP), reduced by the following amounts to the extent allocable to such sales of Products: (i) any refunds, credits or allowances actually given or credited to any third party due to rejections, defects or returns, (ii) any discounts or rebates actually given or credited, (iii) sales, use, occupation or excise taxes, freight, duty or transportation insurance included therein, and in each case as actually incurred by the Companies; (iv) amounts previously included in Net Sales of the Products after the Closing Date that were written-off during such period as uncollectible; and (v) any direct costs within the categories set forth on Schedule 1.6(b). Net Sales of the Products will be calculated for each Quarterly Royalty Period in the manner provided on Schedule 1.6(b), and for purposes of determining the deductions referred to in this Section 1.6(b)(i)-(v) above for each of the products and services, such deductions will be determined without duplication.
Sample 1
Net Sales of the Products means the gross amount invoiced by AAI or its Affiliates for sales of the AAI Products to third persons (not including an Affiliate of AAI), less (i) cash discounts actually taken, (ii) Medicaid/Medicare rebates, and (iii) actual AAI Product returns. Notwithstanding the foregoing, in no event will cash discounts, Medicare/Medicaid rebates and AAI Product returns exceed seven percent (7%) of the gross amount invoiced by AAI to third parties. Such amounts will be determined from AAI Financial Information maintained in accordance with U.S. Generally Accepted Accounting Principles.
Sample 1
Net Sales of the Products means the gross amount invoiced by AAI or its Affiliates for sales of the Products to third persons (not including an Affiliate of AAI), less (i) cash discounts actually taken, (ii) Medicaid/Medicare rebates and (iii) actual Product returns. Notwithstanding the foregoing, in no event will cash discounts, Medicare/Medicaid rebates and Product returns exceed seven percent (7%) of the gross amount invoiced by AAI to third parties. Such amounts will be determined from AAI Financial Information maintained in accordance with U.S. Generally Accepted Accounting Principles.
Sample 1

Examples of Net Sales of the Products in a sentence

  • The Partnership shall maintain (i) books, records and accounts which accurately and fairly reflect, in reasonable detail, the Net Sales of the Products in Territory B and (ii) an adequate system of internal accounting controls.

  • In addition to the payments under Section 4.1.1, in consideration for the rights granted to Nestlé under this Agreement, Nestlé will pay the Company the marginal royalties set forth below in this Section 4.2.1 on the Net Sales of the Products during each Calendar Year in each Territory, as such may be adjusted pursuant to the terms hereof.

  • Each such payment shall be accompanied by an accurate statement of the amount of Net Sales of the Products in Territory B during such calendar quarter and the calculation of all payments to be made to each of Sanofi and BMS for such calendar quarter (each a “Payment Report”).

  • Later, Paul Sweezy (1964) admitted that while Keynes’ theory has showed that, in the event of declining investment activity, capitalism would tend to stagnation and decline, he never managed to show consistently why should the inducement to invest decline.

  • According to the National Association of Colleges and Employers (NACE): An internship is a form of experiential learning that integrates knowledge and theory learned in the classroom with practical application and skill development in a professional setting.

  • The Licensee shall maintain (i) books, records and accounts which accurately and fairly reflect, in reasonable detail, the IFRS Net Sales of the Products in Territory B1 and (ii) an adequate system of internal accounting controls.

  • Argent shall pay Vertical a yearly royalty in the amount of [***] of its Net Sales of the Products in the Territory for the use of any Trademark(s) transferred pursuant Section 11.4 above on any of the Products (“Trademark Royalty”) and this shall be the only compensation, if applicable, that is to be paid by Argent to Vertical (or Optionee as defined in Section 11.6 below) with respect to the Products subsequent to the termination hereof.

  • Respect for human dignity is expressed through three core principles described in the Tri-Council Policy Statement (TCPS2 2022) - Respect for Persons, Concern for Welfare and Justice.

  • Policy RC2: Community Needs Summary of Representations Policy/ SectionTotal No of RepsLegallyCompliantSoundUnsound – ReasonsYesNoYesNoNot JustifiedNot EffectiveNot Consistentwith National PolicyNot StatedPolicy RC2 – CommunityNeeds1596694320 Summary of issues raised by Respondents • A respondent considers that it is unclear how the JCS or subsequent DPDs might provide existing cultural facilities any protection from closure, decline or enhancement.

  • The SNC Partnership shall maintain (i) books, records and accounts which accurately and fairly reflect, in reasonable detail, the IFRS Net Sales of the Products in Territory A and (ii) an adequate system of internal accounting controls.

Related to Net Sales of the Products

  • Net Sales means [***].

  • Licensed Products means tangible materials which, in the course of manufacture, use, sale, or importation, would be within the scope of one or more claims of the Licensed Patent Rights that have not been held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a court of competent jurisdiction.

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Combination Products means COBI Combination Products, EVG Combination Products, TDF Combination Products, TAF Combination Products and Quad Product.

  • processed products means goods placed under a processing procedure which have undergone processing operations;

  • Net Sales Price means the gross billing price of any PRODUCT received by Licensee or its SUBLICENSEE for the sale or distribution of any PRODUCT, less the following amounts actually paid by Licensee or SUBLICENSEE:

  • Sublicense Revenues means [***].

  • Hemp products means all products made from industrial hemp,

  • Finished Products means the fully assembled and shrink-wrapped Licensed Products, each including a Game Cartridge, Game Cartridge label and Printed Materials.

  • Sublicense Revenue means [***].

  • Licensed Product means any pharmaceutical product containing a Licensed Compound (alone or with other active ingredients), in all forms, presentations, formulations and dosage forms.

  • New Products means any product which is not an Enhanced Product or Existing Product but which is substantially similar to an of this Agreement, "New Product" or "New Products" shall mean any product which is not an Enhanced Product or 2 Existing Product but which is substantially similar to an Existing Product with respect to design and function and possesses reasonable performance improvements. If Company desires to purchase an Enhanced or New Product(s) from Supplier, Company shall so notify Supplier and provide Supplier the opportunity to manufacture such Enhanced or New Product(s), subject to the following conditions and procedures.

  • Licensed Services means all functions performed by the Licensed System.

  • Licensed producer means a person or entity licensed to produce medical cannabis.

  • Sublicensing Revenue means all (i) cash, (ii) sublicensing fees and (iii) all other payments and the cash equivalent thereof, which are paid to LICENSEE by the Sublicensees of its rights hereunder, but excluding the following payments:

  • Finished Product means a cannabis product in its final form to be sold at a retail premises.

  • Annual Net Sales means, with respect to any Calendar Year, the aggregate amount of the Net Sales for such Calendar Year.

  • Generic Product means a product which (a) contains as its active pharmaceutical ingredient a compound that is (or is substantially the same as) the Licensed Compound, and (b) has been placed on the market pursuant to a validly granted marketing authorization.

  • Combination Product means a product (a) containing a Licensed Product together with one or more other active ingredients, or (b) with one or more products, devices, pieces of equipment or components, but sold for an integrated price (e.g., with the purchase of one product the customer gets a coupon for the other) or for a single price.

  • Licensed Processes means processes which, in the course of being practiced, would be within the scope of one or more claims of the Licensed Patent Rights that have not been held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a court of competent jurisdiction.

  • Approved Product means any water fitting, plumbing product, material or component which is the subject of an existing WRAS Approval;

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • Refined Products means gasoline, diesel fuel, jet fuel, asphalt and asphalt products, and other refined products of crude oil.