(6) Other Long-Term Liabilities

Other long-term liabilities include the following:

	September 30, 2017			December 31, 2016
	(In thousands)
Deferred Rent	$	669		$	398
Net Deferred Tax Liabilities related to IPR&D	22,854			28,054
Deferred Income from Sale of Tax Benefits	8,940			9,436
Accrued Lease Restructuring	854			1,154
Long-Term Severance	100			539
Contingent Milestones	44,000			44,200
Deferred Revenue	3,726			3,749

Total	81,143			87,530
Less Current Portion	(5,792		)	(4,826		)

Long-Term Portion	$	75,351		$	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 recognized $0.0 million and $0.5 million in other income related to the sale of these tax benefits for the three and nine months ended September 30, 2017, respectively, and $0.0 million and $0.6 million during the three and nine months ended September 30, 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. In October 2017, the Company entered into a sublease agreement for the Needham Expansion. 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 nine months ended September 30, 2017 is presented below (in thousands):

	Accrued Lease Restructuring
Balance at December 31, 2016	$	1,154
Expense	170
Payments	(470		)

Balance at September 30, 2017	$	854