TRXI » Topics » Item 1.02 - Termination of a Material Definitive Agreement.

This excerpt taken from the TRXI 8-K filed Jun 30, 2008.

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.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

      TRX, INC.
      (Registrant)

Date: June 30, 2008

     

/s/ David D. Cathcart

      David D. Cathcart
      Chief Financial Officer
This excerpt taken from the TRXI 8-K filed Jun 5, 2008.

Item 1.02 – Termination of a Material Definitive Agreement.

In connection with its entry into the Credit Agreement, TRX terminated its existing $10.0 million credit facility with Bank of America, N.A. which was scheduled to mature in April 2009. There were no prepayment penalties related to terminating this credit facility.

This excerpt taken from the TRXI 8-K filed Nov 15, 2006.

Item 1.02 Termination of a Material Definitive Agreement

The information set forth in Item 5.02 of this report with respect to the termination of the employment agreements described therein is incorporated by reference into this Item 1.02.

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