The opinion of the court was delivered by: Honorable Maxine M. Chesney
JOINT MOTION FOR DISMISSAL PURSUANT TO SETTLEMENT
Plaintiff Powertronix Corporation and Defendant PV Powered, Inc. jointly move for entry of a dismissal pursuant to settlement, wherein this Court would retain jurisdiction for a brief period (to December 15, 2009) for the purpose of enforcing the settlement, if necessary. In support of their motion, the parties state as follows:
1. The parties have reached an agreement to settle this case, which settlement entails a series of installment payments. The final installment is due on or prior to November 25, 2009.
2. The Settlement Agreement further provides that in the event Defendant fails to timely pay any of the agreed installment payments, the Plaintiff shall, on five business days notice, be permitted to file a stipulation for the entry of judgment in a specified sum.
3. To facilitate this settlement, the parties jointly request this Court to enter a dismissal of this action, retaining jurisdiction through December 15, 2009, or such time thereafter as the Court may require, for the purpose of vacating the dismissal and entering judgment pursuant to the parties' stipulation, should the filing of same become necessary.
WHEREFORE, the parties jointly request entry of a dismissal of this action, with prejudice and without costs to any party, retaining jurisdiction through December 15, 2009, or such time thereafter as the Court may require, for the limited purpose of enforcing the settlement agreement as described herein, together with such other and further relief as the Court deems just and appropriate.
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