Template:M comp disc 2002 ISDA 3(b)

A standard, but useless, contractual warranty. It can’t be a pre-contractual representation, of course, because the very idea of an “event of default” depends for its intellectual existence on the conclusion of the contract in which it is embedded.

So it won't really do to argue there should be no contract, on grounds of a misrepresentation that there has been no breach of that contract.