JOHN Z. LEE, District Judge.
Walgreen Co. ("Walgreens"), by and through its undersigned attorneys, hereby moves this Court for an Order entering a Consent Judgment against Neutrisci International Inc. ("Neutrisci"). This motion is made pursuant to an agreement between Walgreens and Neutrisci and the Consent Judgment requested secures and is a condition precedent to the parties' negotiated resolution of this lawsuit. In further support of this motion, Walgreens states as follows:
1. Walgreens filed its Complaint against Neutrisci on March 18, 2016. The Complaint sought to enforce the terms of a previous settlement agreement the parties had entered into ("First Settlement Agreement").
2. The terms of the First Settlement Agreement required Neutrisci to pay Walgreens $1,000,000, but Neutrisci failed to comply with the terms, paying Walgreens only $500,000.
3. The parties have now agreed to a second settlement agreement ("Second Settlement Agreement"), the terms of which require Neutrisci to pay Walgreens $557,712 (the full amount owed plus an amount agreed upon amount for interest). Payments are to be extended over 12 months.
4. Because Neutrisci previously breached the first settlement agreement, requiring Walgreens to incur costs and fees to file its complaint, the entry of the consent judgment requested here against Neutrisci is a condition of the Second Settlement Agreement.
5. Neutrisci has consented to the entry of a judgment against it in the amount of $557,712. A copy of the consent judgment agreed to by the parties is attached as Exhibit A. Counsel for Neutrisci has indicated its agreement to this form of judgment by signature on that copy. Given that the parties are in agreement that a consent judgment should be entered, and in light of the facts and circumstances of this case, a consent judgment is appropriate. See IMI Norgen, Inc. v. D & D Tooling Mfc., Inc., 306 F.Supp.2d 796, 800 (N.D. Ill. 2004) (consent judgment entered where settlement provided for entry of consent judgment and payment over time).
6. The consent judgment is consistent with the law, does not harm third parties and is an appropriate use of judicial resources.
This matter coming before the Court upon the agreement of the parties, Walgreen Co. and Neutrisci International Inc., IT IS HEREBY ORDERED:
1. Judgment is entered in favor of Walgreen Co. and against Neutrisei International, Inc., in the amount of $557,712, which includes both principal amounts due and owing and agreed-upon pre judgment interest.
2. Neutrisci International, Inc. may satisfy said Judgment by making the following payments beginning May 16, 2016:
3. If Neutrisci International, Inc. shall fail to make one single payment within ten (10) days of its due date, as reflected in the chart in Paragraph 2 above, Neutrisci International, Inc. shall be deemed out of compliance with the partial payment provisions of this Consent Judgment and the partial payment provisions of this Consent Judgment shall be terminated and held for naught. In such event, Walgreen Co. shall be entitled to enforce this Judgment in the amount of $5576,712.
The undersigned apply for and consent to the entry of this Order of Consent Judgment this of April, 2016.