Other Long-Term Liabilities

6 Months Ended

Jun. 30, 2013

(9) Other Long-Term Liabilities

Other long-term liabilities include the following:

	June 30, 2013			December 31, 2012
	(In thousands)
Deferred Rent	$	422		$	434
Net Deferred Tax Liability related to IPR&D	4,661			4,661
Deferred Income from Sale of Tax Benefits	1,630			1,118
Loan Payable	443			472
Other	10			39
Total	7,166			6,724
Less Current Portion	(530		)	(388		)
Long-Term Portion	$	6,636		$	6,336

In January 2013, 2012 and 2011, the Company received approval from the New Jersey Economic Development Authority and agreed to sell New Jersey tax benefits worth $0.8 million, $0.8 million and $0.6 million to an independent third party for $0.8 million, $0.7 million and $0.5 million, respectively. Under the agreement, the Company must maintain a base of operations in New Jersey for five years or the tax benefits must be paid back on a pro-rata basis based on the number of years completed. During the six months ended June 30, 2013 and 2012, the Company recorded $0.2 million and $0.1 million to other income related to the sale of these tax benefits, respectively.