Common use of Loss of Title Clause in Contracts

Loss of Title. Any failure or loss of title to the Properties, and all costs of defending title, shall be charged to the Joint Acccount, except that all costs and losses arising out of, or resulting from, breach of the representations and warranties of AM shall be charged to AM, and all such costs and losses arising out of gross negligence by TMC, or the Manager, shall be charged to TMC, or the Manager, as may be the case. TMC shall have the right, but not the obligation, to undertake to cure such defects, or to defend, or to litigate to defend such defects.