It's my understanding that under an agreement with Equity, LCT, MTC and Roundabout can do limited engagements under a LORT contract, but for any extension they have to switch to the Standard Production Agreement. I've heard that's the main reason why, for example, several of Roundabout shows that were selling well (Assassins, Follies, Glengarry) closed somewhat prematurely -- the shows had reached the point in their runs where the switch to the more expensive contract was about to happen (after the 12th week? 16th?) and the advance wasn't high enough to justify the risk of continuing at the higher rate. Whereas for shows like Cabaret and Twelve Angry Men, the advance was so strong that it was deemed worth the risk to continue running under the Standard Production Agreement.
I don't know the particulars of PIAZZA, but I would assume that at a certain point in the run they too had to switch from the LORT to the Standard Agreement.
I could be wrong, though.
"What a story........ everything but the bloodhounds snappin' at her rear end." -- Birdie
[http://margochanning.broadwayworld.com/]
"The Devil Be Hittin' Me" -- Whitney
Updated On: 1/6/07 at 04:48 PM