Form 8-K for TRX INC/GA
19-Jul-2007
Entry into a Material Definitive Agreement
Item 1.01 - Entry into a Material Definitive Agreement.
On July 13, 2007, TRX Data Services, Inc. ("TRX Data Services"), a wholly-owned subsidiary of TRX, Inc., and Citibank, N.A. ("Citibank") executed an amendment to the Master Services Agreement dated February 1, 2002, as amended (the "Amendment"). The Amendment extends the term of the Master Services Agreement from January 13, 2009 to December 31, 2010. The primary purpose of the Amendment is for TRX Data Services to sell a limited perpetual license of certain source code to Citibank in order for Citibank to perform certain services in-house that have previously been hosted by TRX Data Services. TRX Data Services will continue to perform maintenance and project services for Citibank.
Management does not currently expect the terms of the Amendment to have a material effect on the financial position, results of operations, or cash flows of TRX, Inc. during 2007.
surf's up......crikey
