Common use of Instructions and Requests Clause in Contracts

Instructions and Requests. Unless this Contract provides otherwise, all Purchase Payments, loan repayments, instructions and requests must be received in a form satisfactory to us at our Service Center. Any subsequent Purchase Payments, loan repayments and requests for loans, transfers or withdrawals received by us on any Business Day usually will be processed the same Business Day, unless the transaction or event is scheduled to occur on another day. Generally, all other instructions and requests normally will be effective as of the end of the Business Day following the day such instructions and requests are received by us, unless the transaction or event is scheduled to occur on another day. You acknowledge and agree that we will not be liable for any loss, liability, cost or expense of any kind or character for acting on instructions or requests submitted to us that we reasonably believe to be genuine. Any change in Owner, if permitted under the Contract, or Beneficiary will be effective on the date such change is signed, subject to our receipt of the change at our Service Center.