Quarterly report pursuant to Section 13 or 15(d)

Note 18 - Related Party Transaction

v3.19.2
Note 18 - Related Party Transaction
6 Months Ended
Apr. 30, 2019
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
Note
18.
Related Party Transaction
 
Predecessor
 
The Predecessor had a Management Services Agreement, as amended from time to time, with PGP Advisors, LLC (PGP), an affiliate of the Sponsor, to provide advisory, consulting and other professional services. Under terms of the agreement, the annual fee for these services were
$4.0
million from
September
of
2017
through
August
of
2019,
and
$2.0
million annually thereafter. For the
three
and
six
-month periods ended
April 30, 2018
and in the period from
November 1, 2018
through
December 5, 2018,
the Predecessor incurred
$1.2
million,
$2.3
million and
$0.0
million, respectively, related to this agreement and other agreed upon expenses, which is included in general and administrative expenses on the accompanying consolidated statements of income. In conjunction with the Business Combination, this agreement was terminated.