Common use of ACCOUNT, PLEDGE AND ASSIGNMENT, AND DISBURSEMENT AUTHORIZATION Clause in Contracts

ACCOUNT, PLEDGE AND ASSIGNMENT, AND DISBURSEMENT AUTHORIZATION. The proceeds of the Loan, when qualified for disbursement, shall be disbursed to the closing agent or otherwise disbursed to or for the benefit or account of Borrower under the terms of this Agreement; provided, however, that any direct disbursements from the Loan which are made by means of wire transfer shall be subject to the provisions of that certain Section entitled Funds Transfer Disbursements or any funds transfer agreement which is identified in Exhibit B hereto. Disbursements hereunder may be made by Lender upon the written request of any person who has been authorized by Borrower to request such disbursements until such time as written notice of Borrower’s revocation of such authority is received by Lender at the following address: Winston-Salem Loan Center, Xxx Xxxx Xxxxxx Xxxxxx, 0xx Xxxxx, Xxxxxxx-Xxxxx, Xxxxx Xxxxxxxx 00000.

ACCOUNT, PLEDGE AND ASSIGNMENT, AND DISBURSEMENT AUTHORIZATION. The proceeds of the Loan, when qualified for disbursement, shall be disbursed to deposited into the closing agent Borrower’s Account or otherwise disbursed to or for the benefit or account of Borrower under the terms of this Agreement; provided, however, that any direct disbursements from the Loan which are made by means of wire transfer shall be subject to the provisions of that certain Section entitled Funds Transfer Disbursements or any funds transfer agreement which is identified in 3.4 and the Disbursement Instruction Agreement attached as Exhibit B E hereto. Disbursements hereunder may be made by Lender upon the written request of any person who has been authorized by Borrower to request such disbursements until such time as written notice of Borrower’s revocation of such authority is received by Lender at the following address: Winston-Salem Minneapolis Loan Center, Xxx Xxxx 000 0xx Xxxxxx Xxxxxx, 0xx Xxxxx, Xxxxxxx-00xx Xxxxx, Xxxxx Xxxxxxxx Xxxxxxxxxxx, Xxxxxxxxx 00000.