Significant work takes place at the language-memory interface that supports word and sentence processing. Both the content and the functional organization of our world knowledge impact language comprehension in real time. Each cerebral hemisphere is involved, albeit in different ways. The nature of knowledge organization (associative, categorical, events, perceptuomotor) and their use in predictive and/or integrative language processing have been revealed via investigations employing event-related brain potentials (ERPs). I will review some of our electrophysiological work supporting the idea that language processing is immediate and incremental, contextual, sometimes predictive, multi-modal, and bi-hemispheric.