Common use of Debt to Total Capitalization Ratio Clause in Contracts

Debt to Total Capitalization Ratio. The Agent and the Banks party hereto hereby agree to waive compliance by Conseco, on an interim basis until Waiver Termination (as defined below) only, with the requirements set forth in Section 4.13 of the Appendix (incorporated by reference into the Conseco Guaranty and into the Agreement) that the Debt to Total Capitalization Ratio (i) as of June 30, 2002 not be greater than 0.400:1.0 and (ii) as of September 30, 2002 not be greater than 0.375:1.0, and waive any default that may have occurred or may occur solely as a result of such noncompliance.