Operating the engine with loose tie bolts will cause the fitted bolts holding the bedplate, frame and entablature in alignment to stretch and break. The machined mating surfaces will rub together, corrode and wear away (this is known as fretting). Once this has happened the alignment of the engine running gear will be destroyed. Loose tie bolts will also cause the transverse girders to bend which could lead to cracking, and main bearing misalignment.
Once fretting between the mating surfaces has occurred, then tightening of the tie bolts will pull the engine out of alignment. The crosshead guides, the cylinder liner, and the stuffing box will no longer be in line and excessive wear will occur. Because the tie bolts will no longer be pulled down squarely they will be subject to forces which may lead to them breaking. If fretting has occurred, then the only solution is to remove the entablature or/and frame and machine the fretted mating surfaces (a very costly exercise).