(11) Commitments and Contingencies The Companys long-term contractual obligations include commitments and estimated purchase obligations entered into in the normal course of business. Under certain supply agreements and other agreements with manufacturers and suppliers, the Company is required to make payments for the manufacture and supply of its clinical and approved products. The Companys major outstanding contractual obligations are for payments related to its convertible notes, capital loans, facility leases and commitments to purchase inventory. In connection with the acquisition of Biotie, the Companys long-term contractual obligations include certain operating leases of Biotie. The following table summarizes the contractual obligations at June 30, 2016 and the effect such obligations are expected to have on the Companys liquidity and cash flow in future periods: Payments due by period (1)(9) (In thousands) Total Less than 1 year 1-3 years 4-5 years Convertible Senior Notes (2) $ 374,575 $ 6,038 $ 12,075 $ 356,462 Convertible note payable (3) 1,144 1,144   Capital loans (4) (6) 19,987    Research and development loans (5) (6) 2,987 597 1,195 1,195 Operating leases (7) 30,434 6,192 12,330 11,912 Inventory purchase commitments (8) 30,484 30,484   Total $ 459,611 $ 44,455 $ 25,600 $ 369,569 (1) Excludes a liability for uncertain tax positions totaling $6.5 million. This liability has been excluded because the Company cannot currently make a reliable estimate of the period in which the liability will be payable, if ever. (2) Represents the future payments of principal and interest to be made on the Convertible Senior Notes issued in June 2014 and due in 2021. (3) Represents the remaining annual payment of principal and interest to be made on the convertible note payable to Saints Capital. (4) Represents payments for the convertible and non-convertible capital loans. The convertible capital loan and the non-convertible capital loans have a stated maturity of less than one year. However, the repayment