Purchaser and TAQA North Ltd. have also agreed that they will waive their right to terminate the transaction due to (a) a material adverse change affecting PrimeWest to the extent that it is caused by any matter, fact or development that arises after December 14, 2007, or (b) an event occurs after December 14, 2007 which makes a representation or warranty of PrimeWest untrue. Completion of the transaction remains subject to certain other closing conditions that are typical of transactions of this nature.
The original terms of the transaction permit PrimeWest to declare a distribution of $0.25 per trust unit to unitholders of record on January 4, 2008 if closing has not occurred by that date. PrimeWest will issue a further news release as and when such a distribution may be declared.
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