(6) Other Long-Term Liabilities

Other long-term liabilities include the following:

	June 30, 2017			December 31, 2016
	(In thousands)
Deferred Rent	$	710		$	398
Net Deferred Tax Liabilities related to IPR&D	28,054			28,054
Deferred Income from Sale of Tax Benefits	8,940			9,436
Accrued Lease Restructuring	1,150			1,154
Long-Term Severance	181			539
Contingent Milestones	48,600			44,200
Deferred Revenue	3,729			3,749

Total	91,364			87,530
Less Current Portion	(5,538		)	(4,826		)

Long-Term Portion	$	85,826		$	82,704

In November 2015, December 2014, January 2014 and January 2013, the Company received approval from the New Jersey Economic Development Authority and agreed to sell New Jersey tax benefits of $9.8 million, $1.9 million, $1.1 million and $0.8 million to an independent third party for $9.2 million, $1.8 million, $1.0 million and $0.8 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. The Company recorded $0.5 million and $0.6 million to other income related to the sale of these tax benefits during the six months ended June 30, 2017 and 2016, respectively.

In December 2016, the Company decided not to occupy the 11,500 square feet of expansion space (“Needham Expansion”) at its Needham, Massachusetts facility. The Company agreed to lease the Needham Expansion in August 2015 and the term of the lease expires in July 2020. The Company is actively trying to sublease the lease obligation. In March 2017, the Company terminated its lease in Branford, CT and consolidated its Connecticut operations in its New Haven, CT facility. The Company recorded restructuring expense of $0.2 million to general and administrative expense related to the Branford, CT lease termination. The activity related to accrued lease restructuring for the six months ended June 30, 2017 is presented below (in thousands):

	Accrued Lease Restructuring
Balance at December 31, 2016	$	1,154
Expense	267
Payments	(271		)

Balance at June 30, 2017	$	1,150