Common use of By Wire Transfer Clause in Contracts

By Wire Transfer. To make an Advance, Lender shall wire funds, as applicable, upon compliance by Borrower with the terms of this Agreement; provided, however, that Lender shall not wire funds to any Closing Agent or warehouse lender that is not an Approved Payee unless such Lender has waived such condition pursuant to Section 3.7(iii). The wiring of funds by Lender to any Closing Agent or warehouse lender that is not an Approved Payee shall not make such Closing Agent or warehouse lender an Approved Payee. Any funds disbursed by Lender to Borrower or its Approved Payee by wire transfer shall be subject to all applicable federal, state and local laws and regulations and policy of the Board of Governors of the Federal Reserve System on Reduction of Payments System Risk as such policy may be changed or amended from time to time. Borrower acknowledges that as a result of such applicable law and policy, the transmission of a disbursement by wire transfer may be delayed.

By Wire Transfer. To make an Advance, Lender shall wire funds, as applicable, upon compliance by Borrower with the terms of this Agreement; provided, however, that Lender shall not wire funds to any Closing Agent or warehouse lender that is not an Approved Payee unless such Lender has waived such condition pursuant to Section 3.7(iii)Payee. The wiring of funds by Lender to any Closing Agent or warehouse lender that is not an Approved Payee shall not make such Closing Agent or warehouse lender an Approved Payee. Any funds disbursed by Lender to Borrower or its Approved Payee by wire transfer shall be subject to all applicable federal, state and local laws and regulations and policy of the Board of Governors of the Federal Reserve System on Reduction of Payments System Risk as such policy may be changed or amended from time to time. Borrower acknowledges that as a result of such applicable law and policy, the transmission of a disbursement by wire transfer may be delayed.