Failure of Title. Any defects of title that may develop shall be the joint responsibility of all parties and, if a title loss occurs, it shall be the loss of all parties, with each bearing its proportionate part of the loss and of any liabilities incurred in the loss. If such a loss occurs, there shall be no change in, or adjustment of, the interests of the parties in the remaining portion of the Unit Area or Area of Interest.
Appears in 2 contracts
Sources: Operating Agreement (American Oil & Gas Inc.), Operating Agreement (Perkins Oil & Gas, Inc.)