Arranged stage exits or entrances (5)
I believe the answer is:
gates
'entrances' is the definition.
(I've seen this before)
'arranged stage exits' is the wordplay.
'stage' anagrams to 'GATES'.
But, I'm unsure how the anagram is indicated.
'or' is the link.
Can you help me to learn more?
(Other definitions for gates that I've seen before include "Microsoft's Bill?" , "Movable barriers in fence or wall" , "Stage is set for them to open and close" , "Confines (student) to college; entrances" , "Billionaire computer entrepreneur" .)