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Message: PACER digEcor

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Re: PACER digEcor

in response to PACER digEcor by silversurfer
posted on Nov 13, 09 07:40PM

Well, it looks like it's finally over. Thank God. We owed them $80K for the batteries but it looks like they settled on $60K and we dropped our request for court costs. Also, both Parties have agreed not to appeal any decisions or orders.

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Plaintiff digEcor, Inc. ("digEcor") and Defendant e.Digital Corporation ("e.Digital") jointly submit this Stipulated Notice of Settlement, Withdrawal of Applications for Costs, and Waiver of Appeal.

The Parties hereby notify the Court that they have entered an agreement entitled Settlement Agreement and Mutual Release of Claims (the "Settlement Agreement"), a copy of which is attached to this filing as Exhibit A.

Pursuant to the Settlement Agreement, the Parties jointly notify the Court that e.Digital is withdrawing all of its applications for costs, the most recent of which was filed with the Court on October 26, 2009 as Doc. Nos. 413, 414, but also including Doc Nos. 401, 402, 406, 407, and 408. Neither party shall seek recovery from the other party of any costs or attorneys' fees incurred in connection with the Lawsuit. The Parties further jointly notify the Court that both Parties have waived their rights to appeal any decision or order entered in this case. Neither party will file a Notice of Appeal in this matter.

Finally, pursuant to the Settlement Agreement, e.Digital has agreed to make a payment to digEcor in the amount of $60,000 (the "Payment") by 6:00 p.m. Mountain Standard Time on Wednesday, November 18, 2009. digEcor gives notice that within one business day of its timely receipt of the Payment, digEcor shall file with the Court a Satisfaction of Judgment in the form agreed upon by the Parties. However, the Judgment shall remain in full force and effect until e.Digital makes the Payment required under the Settlement Agreement. If e.Digital should fail to make the Payment digEcor may fully and freely enforce the Judgment. The Parties acknowledge and agree that all disputes between them will be fully settled and mutually released effective upon digEcor’s timely receipt of the Payment as specified in the Settlement Agreement.

DATED this 13th day of November, 2009.

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