Common use of Enforcement of Judgment Clause in Contracts

Enforcement of Judgment. In the event CRD and MAII, either individually or collectively, fail to comply with any term of Paragraph 4 of this Stipulation above, and the Agreement, then Ford Credit shall no longer be obligated to forbear from filing the Stipulation and seeking entry of Judgment. Time is of the essence as to each and every obligation contained in this Stipulation and the Agreement. Upon any default, Ford Credit may prepare and file a competent declaration setting forth that CRD and/or MAII have defaulted on the terms of the Stipulation and/or Agreement and an Ex Parte Application requesting entry of Judgment in the form that is appended to this Stipulation. A default by any one Defendant shall entitle Ford Credit to Judgment against both Defendants. A copy of the Declaration, Ex Parte Application, and form of proposed Judgment shall be faxed to Richard Griffin as counsel for CRD and MAII at (713)752-4221 at any t▇▇▇ ▇▇▇▇▇ ▇▇ ▇▇e filing of the Ex Parte Applica▇▇▇▇. ▇▇▇ ▇▇▇ MAII may not oppose entry of the Judgment on any grounds other than competent evidence that they have not defaulted under the terms of the Stipulation and/or Judgment. CRD and MAII shall have no opportunity for notice and cure of the stated default(s). CRD and MAII waive the right to contest the entry of Judgment on any other grounds other than a lack of breach. CRD and MAII shall bear the burden of proof to establish the failure of a breach of the Stipulation and/or Agreement. Any opposition to the entry of Judgment shall be submitted to the District Court for the Central District -4- STIPULATION FOR JUDGEMENT AND ENTRY OF JUDGMENT of California within three (3) court days after service of the Declaration and Ex Parte Application on Richard Griffin. CRD and MAII shall serve any opposition that it file▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇t on Mark Kenney, Esq., Severson & Werson, a Professional Corporation, by ▇▇▇▇▇▇▇▇▇ ▇ransmiss▇▇▇ ▇▇ (415) ▇▇▇-0439. Upon the filing of the Ex Parte Application ▇▇▇ ▇▇▇ ▇▇▇▇▇ation of three (3) court days as set forth above, the Court shall enter Judgment, without further notice or hearing, in favor of Ford Credit and against CRD as Borrower and MAII as Guarantor. Ford Credit shall be entitled to Judgment in the amount of $13,024,382.92, plus all accrued interest, costs, and attorney's fees as allowed under the Agreement, less credit for any payments made thereto. In addition, the Judgment shall include judgment for possession of Ford Credit's collateral, and in particular of the Vehicles as described in the Court's prior order for Writ of Possession. CRD, MAII and Ford Credit expressly acknowledge and agree that Ford Credit shall not be obligated to file any motion to seek entry of Judgment and that the Court may enter the Judgment as set forth above. CRD and MAII expressly waive any rights under CCP Section 664.6 to require Ford Credit to notice a hearing before the Court enters the Judgment, unless the Court orders such notice.