Abatement of Litigation Agreement (Free Banking Template)

Abatement of Litigation Agreement

_____________________, referred to as PLAINTIFF, and _________________, referred to as DEBTOR, agree:

The parties are litigating a disputed matter in the __________________, case number

_________________.

The parties agree that the DEBTOR is indebted to the PLAINTIFF in the amount of $______(_______________________________ & ______/100 dollars).

DEBTOR shall pay this sum under the following conditions:

 ________________________________

The parties agree to abate the litigation under the following terms:

(a) the case shall not be dismissed for failure to prosecute during the term provided for payment;

(b) this agreement may be filed by either party if necessary to enforce this agreement;

(c) in the event that the DEBTOR fails to pay as is agreed, the PLAINTIFF shall be entitled to obtain a judgment for any remaining balance upon ex parte application, the DEBTOR specifically waiving notice of application for judgment and settlement of the form of judgment.

Either party may file this agreement before the Court.

This is the entire agreement between the parties and this agreement may only be amended by a writing executed by the parties hereto.

Dated: ______________________

 ________________________________

 _____________________ By Debtor

 ________________________________

 _________________ By Plaintiff

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