XML 39 R20.htm IDEA: XBRL DOCUMENT v3.20.1
Related Parties
3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Related Parties
Related Parties
In conjunction with the closing of the Sidewinder Merger on October 1, 2018, we entered into the Term Loan Credit Agreement for an initial term loan in an aggregate principal amount of $130.0 million and a delayed draw term loan facility in an aggregate principal amount of up to $15.0 million. MSD PCOF Partners IV, LLC (an affiliate of MSD Partners) is the lender of our $130.0 million Term Loan Facility.  MSD Partners, together with MSD Capital, own approximately 30% of the outstanding shares of the Company’s common stock as of March 31, 2020.
We made interest payments on the Term Loan Facility totaling $3.2 million and $3.3 million for the three months ended March 31, 2020 and 2019, respectively.
Additionally, we have recorded merger consideration payable to an affiliate of $2.9 million related to proceeds received from the sale of specific assets earmarked in the Sidewinder Merger agreement as assets held for sale with the Sidewinder unitholders receiving the net proceeds. We are required to make this payment to MSD, the shareholders’ representative, in the second quarter of 2020.