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OTHER LONG-TERM LIABILITIES | 12 Months Ended
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Dec. 31, 2012
OTHER LONG-TERM LIABILITIES |
OTHER LONG-TERM LIABILITIES | (8) OTHER LONG-TERM LIABILITIES Other long-term liabilities include the following:
|  | December 31, 2012 |  | December 31, 2011 |
--- | --- | --- | --- | --- | ---
|  | (In thousands) |
Deferred Rent |  | $ | 434 |  | $ | 435 |
Net Deferred Tax Liability related to IPR&D |  |  | 4,661 |  |  | 4,661 |
Deferred Income from Sale of Tax Benefits |  |  | 1,118 |  |  | 510 |
Loan Payable |  |  | 472 |  |  | 527 |
Other |  |  | 39 |  |  | 52 |
Total |  |  | 6,724 |  |  | 6,185 |
Less Current Portion |  |  | (388 | ) |  | (219 | )
Long-Term Portion |  | $ | 6,336 |  | $ | 5,966 |
In January 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 and $0.6 million to an independent third party for $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 year ended December 31, 2012, the Company recorded $0.1 million to other income related to the sale of these tax benefits. In December 2003, the Company entered into a lease with the Massachusetts Development Finance Agency whereby the Company received a loan to finance the build-out of its manufacturing facility in Fall River, Massachusetts. Principal and interest payments on the loan are due monthly using an amortization period of 15 years and interest accrues at a rate of 5.5% per annum. The Company is obligated to repay the following principal amounts for the loan as follows (in thousands):
2013 |  | $ | 53 |
2014 |  |  | 60 |
2015 |  |  | 63 |
2016 |  |  | 66 |
2017 |  |  | 70 |
Thereafter |  |  | 160 |
Total |  | $ | 472 |

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- Definition The entire disclosure for other liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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