Common use of UNDERTAKINGS BY THE INTERMEDIARY Clause in Contracts

UNDERTAKINGS BY THE INTERMEDIARY. The Intermediary undertakes to use its best endeavours at all times to expedite the settlement of cover terms and conditions to enable payment of premium to the Company on the date as may be agreed by the parties for payment of premium, and in particular to: 3.1. commence all cover negotiations as soon as possible; 3.2. advise Policyholders at the beginning of negotiations of the need for premiums to be paid on or before the Due Date but, if not practically possible, then within the hold covered period; 3.3. expedite the finalisation of negotiations between the Company and the Policyholder so as to facilitate the finalisation of the relevant policy on or before the Due Date but, if not practically possible, then within the hold covered periods; 3.4. actively monitor premium payments by the Due Date; and 3.5. inform the Company of any Policyholders who appear to be delaying the finalisation of the cover terms and payment of premium without good cause.