EXHIBIT 10.2
[MICROTEL INTERNATIONAL INC. LETTERHEAD]
October 2, 2000
T-Com, LLC
00 0xx Xxxxxx, #000
Xxx Xxxxx, XX 00000
Attn: Xxxxxxx Xxxxx
RE: ASSET PURCHASE OF T-COM, LLC BY CXR TELECOM
CORPORATION (THE "TRANSACTION")
Dear Sirs:
This letter is to confirm our agreement concerning the effective date
for the above-referenced Transaction.
Whereas, an agreement in principle and a valuation for the Transaction
were executed by CXR Telcom Corporation ("CXR"), MicroTel International, Inc.
("MicroTel") and T-Com, LLC ("T-Com") on July 17, 2000 and July 26, 2000,
respectively, and all agreed upon actions required of T-Com to posture itself
in a business mode acceptable to CXR and MicroTel were made effective August
1, 2000; and
Whereas, MicroTel, CXR and T-Com have each indicated that they are
agreeable to making the effective date for the Transaction August 1, 2000 as
that date had been originally anticipated as the closing date for the
Transaction; and
Whereas, MicroTel and CXR have conferred with their accountants and
auditors, who, in light of the foregoing, have advised that they have no
objection to making the effective date for the Transaction August 1, 2000.
MicroTel, CXR and T-Com, for good and valuable consideration, receipt of
which is hereby acknowledged, agree, notwithstanding anything to the contrary
contained in the Asset Purchase Agreement relating to the Transaction, or any
of the Exhibits thereto, that as between the parties for all purposes the
Transaction shall be deemed to be effective as of August 1, 2000.
===============================================================================
0000 X. Xxxxx Xxx Xxxxx 000, Xxxxxx Xxxxxxxxx XX. USA 91730
Voice (000) 000-0000 FAX (000) 000-0000
Please indicate your agreement with the foregoing by signing and returning
the enclosed copy of this letter.
MICROTEL INTERNATIONAL, INC.
By: /s/ XXXXXXX X. XXXXX
----------------------------
Xxxxxxx X. Xxxxx
CXR TELCOM CORPORATION
By: /s/ XXXXXXX X. XXXXX
----------------------------
Xxxxxxx X. Xxxxx
Agreed to:
T-Com, LLC
By: /s/ XXXXXXX XXXXX
--------------------------
Xxxxxxx Xxxxx
