Tuesday, July 01, 2008 12:27:26 PM
30-Jun-2008
Termination of a Material Definitive Agreement
Item 1.02 - Termination of a Material Definitive Agreement.
On June 30, 2008, TRX Technology Services, L.P. ("TRX Technology"), a wholly-owned subsidiary of TRX, Inc. ("TRX" or the "Company") and BCD Travel USA LLC (formerly known as WorldTravel Partners I, LLC) ("BCD Travel") provided mutual notice of the parties' intent not to renew the Amended and Restated Master Agreement dated January 1, 2006, by and between TRX Technology and BCD Travel, as amended (the "Master Agreement"). The parties are in discussions regarding a new contract for TRX services, and the six-month notice is required pursuant to Section 14.2 of the Master Agreement. As a result of the notice, the Master Agreement will expire by its terms on December 31, 2008, and will not automatically renew for an additional one (1) year term.
Under the terms of the Master Agreement, TRX provides services related to online booking and reservation processing for BCD Travel and BCD Travel's global partners. The description of the Master Agreement is qualified in its entirety by reference to the Master Agreement filed as Exhibit 10.1 to the Company's quarterly report on Form 10-Q filed May 4, 2006 and Amendment 1 to the Master Agreement dated March 20, 2008 filed as Exhibit 10.1 to the Company's quarterly report on Form 10-Q filed May 2, 2008, and are incorporated herein by reference
surf's up......crikey
Termination of a Material Definitive Agreement
Item 1.02 - Termination of a Material Definitive Agreement.
On June 30, 2008, TRX Technology Services, L.P. ("TRX Technology"), a wholly-owned subsidiary of TRX, Inc. ("TRX" or the "Company") and BCD Travel USA LLC (formerly known as WorldTravel Partners I, LLC) ("BCD Travel") provided mutual notice of the parties' intent not to renew the Amended and Restated Master Agreement dated January 1, 2006, by and between TRX Technology and BCD Travel, as amended (the "Master Agreement"). The parties are in discussions regarding a new contract for TRX services, and the six-month notice is required pursuant to Section 14.2 of the Master Agreement. As a result of the notice, the Master Agreement will expire by its terms on December 31, 2008, and will not automatically renew for an additional one (1) year term.
Under the terms of the Master Agreement, TRX provides services related to online booking and reservation processing for BCD Travel and BCD Travel's global partners. The description of the Master Agreement is qualified in its entirety by reference to the Master Agreement filed as Exhibit 10.1 to the Company's quarterly report on Form 10-Q filed May 4, 2006 and Amendment 1 to the Master Agreement dated March 20, 2008 filed as Exhibit 10.1 to the Company's quarterly report on Form 10-Q filed May 2, 2008, and are incorporated herein by reference
surf's up......crikey
surf's up......crikey
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