Exhibit 3 AGREEMENT OF TRANSFER AND RECEIPT Millennium Entertainment Partners, L.P. ("MEP") hereby transfers, sells and assigns to Millennium Partners LLC ("MP") 1,052,632 shares (the "Shares") of The Sports Club Company, Inc., in exchange for...Agreement of Transfer and Receipt • July 1st, 1997 • Millennium Partners LLC • Services-membership sports & recreation clubs
Millennium Entertainment Partners, L.P. ("MEP") hereby transfers, sells and assigns to Millennium Partners LLC ("MP") 1,052,632 shares (the "Shares") of The Sports Club Company, Inc., in exchange for $5,000,000 cash, payable at the direction of MEP, receipt of which is hereby acknowledged. Each of MEP and MP agree to execute and deliver such other documents, stock powers, authorizations and agreements as may be necessary to complete the registration of the transfer of the Shares to MP.
