Common use of Representations Correct; No Default Clause in Contracts

Representations Correct; No Default. Conseco represents and warrants that, except as expressly waived hereby, on and as of the date hereof (i) the representations and warranties contained in the Conseco Guaranty are true as though made on and as of the date hereof (except to the extent a representation or warranty references a specific date, in which case, such representation or warranty is true as of such date) and (ii) no default has occurred and is continuing.