Common use of Company Closing Notice Clause in Contracts

Company Closing Notice. The Producer may close the company upon one week's written notice, or upon payment of one week's contractual salary in lieu thereof, provided the Producer has paid the Actor for all services rendered to date and in no event less than two weeks' contractual salary, plus rehearsal pay. (1) One week's notice shall mean eight performances on no more than seven days commencing with the first performance following the posting of the notice. (2) Should the Producer wish to continue the production rather than close on the date specified in the notice, prior to that date the Producer shall submit a statement to the effect that the notice is rescinded and that the Actors' contracts continue to remain in effect. This statement shall be signed by the Producer and by each of the Actors who wish to continue in the production.

Company Closing Notice. The Producer may close the company upon one week's written notice, or upon payment of one week's contractual salary in lieu thereof, provided the Producer has paid the Actor for all services rendered to date and in no event less than two weeks' contractual salary, plus rehearsal pay. (1) One week's notice shall mean eight performances on no more than seven days commencing with the first performance following the posting of the notice. (2) Should the Producer wish to continue the production rather than close on the date specified in the notice, prior to that date the Producer shall submit a statement to the effect that the notice is rescinded and that the ActorsActors and Stage Managers' contracts continue to remain in effect. This statement shall be signed by the Producer and by each of the Actors and Stage Manager who wish to continue in the production.