Document:

exv4w3

 

EXHIBIT 4.3

5.125% Senior Notes due 2012

CERTIFICATE OF AUTHENTICATION

This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.

	 	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK TRUST COMPANY, N.A.
	 	 	as Trustee,
	 
	 	 	 	 	 	 
	 

	 	   By:
	 	
 

	 	 
	 

	 	 	 	 
Authorized Officer
	 	 
	 
	 	 	 	 	 	 
	Dated: September 19, 2007
	 	 	 	 	 	 

 

 

THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS DEBT
SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER
OF THIS DEBT SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER
THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN
THE INDENTURE.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO BERKSHIRE HATHAWAY FINANCE CORPORATION OR ITS AGENT FOR
REGISTRATION OR TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN
THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN.

 

 

BERKSHIRE HATHAWAY FINANCE CORPORATION

5.125% Senior Notes due 2012

			
	 
	 	CUSIP: 084664AU5
	 
	 	ISIN: US084664AU54
	 
	No. 1
	 	$                    
	 
	 	(as revised by the Schedule of Increases and

Decreases in Global Security attached hereto)

     BERKSHIRE HATHAWAY
FINANCE CORPORATION, a corporation duly organized and existing under the laws of
the State of Delaware (herein called the “Company”, which term includes any successor Person
under the Indenture hereinafter referred to), for value received, hereby promises to pay to
CEDE & CO., the registered Holder hereof, the principal sum of           
               ($                    )
(as revised by the Schedule of
Increases and Decreases in Global Security attached hereto) on September 15, 2012, and to pay
interest thereon from and including September 19, 2007 or from and including the most recent
Interest Payment Date (as defined below) to which interest has been paid or duly provided
for, semi-annually on March 15 and September 15 in each year, commencing March 15, 2007 (each
an “Interest Payment Date”), at the rate of 5.125% per annum (as adjusted, if at all,
pursuant to such Indenture, the “Interest Rate”), until the principal hereof is paid or made
available for payment; provided that any principal, and any such installment of interest,
which is overdue shall bear interest at the Interest Rate (to the extent that the payment of
such interest shall be legally enforceable), from the dates such amounts are due until they
are paid or made available for payment, and such interest shall be payable on demand. The
interest so payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in such Indenture, be paid to the Person in whose name this Debt Security
(or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest. Any such interest not so punctually paid or duly
provided for will forthwith cease to be payable to the Holder on such Regular Record Date
and may either be paid to the Person in whose name this Debt Security (or one or more
Predecessor Securities) is registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to Holders of Debt Securities of this series not less than 10 days prior to such
Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Debt Securities of this series may
be listed, and upon such notice as may be required by such exchange, all as more fully
provided in such Indenture.

     Payment of the principal of and interest on this Debt Security will be made at the
office or agency of the Company maintained for that purpose in the City of New York, New
York (or, if the Company does not maintain such office or agency, at the corporate trust
office of the Trustee in the City of New York or if the Trustee does not
maintain an office in the City of New York, at the office of a Paying
Agent in the City of New York), in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and private debt;
provided, however, that at the option of the Company payments of principal or interest may
be made by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register.

     This Debt Security may be redeemed, in whole or in part, at the option of the Company,
at any time prior to its maturity at a redemption price equal to the greater of (A) 100% of
the principal amount to be redeemed or (B) as determined by the Quotation Agent, the sum of
the

 

 

present values of the remaining scheduled payments of principal and interest on the
portion of this Debt Security being redeemed, not including any portion of such payments of
interest accrued as of the date fixed for redemption, discounted to the date fixed for
redemption on a semi-annual basis assuming a 360-day year consisting of twelve 30-day
months, at the Adjusted Treasury Rate plus fifteen (15) basis points, plus, in
each case, accrued interest on the portion of this Debt Security being redeemed to the date
fixed for redemption.

     The Quotation Agent will select a Comparable Treasury Issue, and the Reference Dealers
will provide the Company with the Reference Dealer Quotations. The Company will calculate
the Comparable Treasury Price.

     “Adjusted Treasury Rate” means, for any date fixed for redemption, the rate per year
equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue
assuming a price for the Comparable Treasury Issue equal to the Comparable Treasury Price
for the date fixed for redemption, in each case expressed as a percentage of its principal
amount.

     “Comparable Treasury Issue” means, for any date fixed for redemption, the
U.S. Treasury security selected by the Quotation Agent which has a maturity
comparable to the remaining maturity of this Debt Security as of the date fixed for
redemption, which would be used in accordance with customary financial practice to
price new issues of corporate debt securities with a maturity comparable to the remaining
maturity of this Debt Security as of the date fixed for redemption.

     “Comparable Treasury Price” means, for any Comparable Treasury Issue, the
price after eliminating the highest and the lowest Reference Dealer Quotations and then
calculating the average of the remaining Reference Dealer Quotations; provided, however, if
the Company obtains fewer than three Reference Dealer Quotations, the Company will, when
calculating the Comparable Treasury Price, calculate the average of all the Reference Dealer
Quotations and not eliminate any such quotations.

     “Quotation Agent” means Goldman, Sachs & Co. or its successor.

     “Reference Dealers” means Goldman, Sachs & Co. or its successor and
two or more other primary U.S. Government securities dealers in the City
of New York appointed by the Company, provided, however, that if
Goldman, Sachs & Co. or its successor ceases to be a primary U.S. Government
securities dealer, the Company will appoint another primary U.S. Government securities
dealer as a substitute.

     “Reference Dealer Quotations” means, for any Comparable Treasury Issue, the
average of the bid and asked prices for such Comparable Treasury Issue (expressed
in each case as a percentage of its principal amount) quoted in writing by the Reference
Dealers to the Company as of 5:00 p.m. (EST) on the third business day before the relevant
date fixed for redemption.

     “Regular Record Date” means, with respect to any Interest Payment Date, March 1 or
September 1, as the case may be, immediately preceding such Interest Payment Date.

     The Company may elect to effect a redemption in accordance with these provisions at any
time and on any date. However, the Company must give the Holders of this Debt Security
notice, as provided in the Indenture, of the redemption not less than 30 days or more than
60 days before the date fixed for redemption. If the Company elects to redeem fewer than
the full principal amount of this Debt Security, the Trustee will select the amount to be
redeemed on a pro rata basis, by lot or by such other method of random selection, if any,
that the Trustee deems fair and appropriate.

 

 

     Reference is hereby made to the further provisions of this Debt Security set forth on
the reverse hereof, which further provisions shall for all purposes have the same effect as
if set forth at this place.

     Unless the certificate of authentication hereon has been executed by the Trustee
referred to on the reverse hereof by manual signature, this Debt Security shall not be
entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

 

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.

	 	 	 	 	 	 	 
	Dated: September 19, 2007	 	BERKSHIRE HATHAWAY FINANCE CORPORATION
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

Marc D. Hamburg
	 	 
	 

	 	Title:
	 	President	 	 
	 
	 	 	 	 	 	 
	Attest:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

Name: Jo Ellen Rieck

	 	 	 	 	 	 
	Title: Assistant Secretary
	 	 	 	 	 	 

 

 

[REVERSE OF DEBT SECURITY]

     This Debt Security is one of a duly authorized series of notes of the Company
(herein called the “Debt Securities”), issued and to be issued in one or more series under
an Indenture, dated as of December 22, 2003 (herein called the “Base Indenture”, and as
supplemented by (i) the Officers’ Certificate, dated as of December 22, 2003, (ii) the
Officers’ Certificate, dated as of May 7, 2004, (iii) the Officers’ Certificate, dated as of
July 19, 2004, (iv) the Officers’ Certificate, dated as of September 20, 2004,
(v) the Officers’ Certificate, dated as of October 28, 2004, (vi) the Officers’ Certificate,
dated as of January 11, 2005, (vii) the Officers’ Certificate, dated as of May 18, 2005
and (viii) the Officers’ Certificate, dated as of September 19, 2007, together with the
Base Indenture, called the “Indenture”), among the Company, as issuer, Berkshire Hathaway
Inc., as guarantor (herein the “Guarantor” which term includes any successor Guarantor under
the Indenture) and The Bank of New York Trust Company, N.A., as successor to J.P. Morgan Trust Company,
National Association, as Trustee (herein called the
“Trustee”, which term includes any successor trustee under the Indenture), and reference is
hereby made to the Indenture for a statement of the respective rights, limitations of
rights, duties and immunities thereunder of the Company, the Guarantor, the Trustee and the
Holders of the Debt Securities and of the terms upon which the Debt Securities are, and are
to be, authenticated and delivered. This Debt Security is one of the series of Debt
Securities, which series consists of the 5.125% Senior Notes due 2012.

     This Debt Security does not have the benefit of any sinking fund obligation.

     The Indenture contains provisions for defeasance at any time of the entire Indebtedness
of this Debt Security or of certain restrictive covenants and Events of Default with respect
to this Debt Security, in each case upon compliance with certain conditions set forth in the
Indenture.

     If an Event of Default with respect to the Debt Securities of this series shall occur
and be continuing, the principal of the Debt Securities of this series may be declared due
and payable in the manner and with the effect provided in the Indenture.

     The Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and/or the
Guarantor and the rights of the Holders of the Debt Securities and/or the Guarantees of each
series to be affected under the Indenture at any time by the Company, the Guarantor and the
Trustee with the consent of the Holders of fifty-one percent in principal amount of the Debt
Securities at the time Outstanding of each series to be affected. The Indenture also
contains provisions permitting the Holders of specified percentages in principal amount of
the Debt Securities of each series at the time Outstanding, on behalf of the Holders of all
Debt Securities of such series, to waive compliance by the Company and/or the Guarantor with
certain provisions of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Debt Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Debt Security
and of any Debt Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon
this Debt Security.

     As provided in and subject to the provisions of the Indenture, the Holder of this Debt
Security shall not have the right to institute any proceeding with respect to the Indenture
or for the appointment of a receiver or trustee or for any other remedy thereunder, unless
such Holder shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Debt Securities of this series, the Holders of not less than 25%
in principal amount of the Debt Securities of this series at the time Outstanding shall have
made written request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee indemnity or security reasonably satisfactory to
it, and the Trustee shall not have received from the Holders of a majority in principal
amount of Debt Securities of this series at the time Outstanding a direction inconsistent
with such request, and shall have failed to institute any such

 

 

proceeding, for 60 days after receipt of such notice, request and offer of indemnity.
The foregoing shall not apply to any suit instituted by the Holder of this Debt Security for
the enforcement of any payment of principal hereof or any premium or interest hereon on or
after the respective due dates expressed herein.

     No reference herein to the Indenture and no provision of this Debt Security or of the
Indenture shall alter or impair the obligation of the Company, which is absolute and
unconditional, to pay the principal of and any interest on this Debt Security at the times,
place and rate, and in the coin or currency, herein prescribed.

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Debt Security is registrable in the Security Register, upon surrender of
this Debt Security for registration of transfer at the office or agency of the Company in
any place where the principal of and any premium and interest on this Debt Security are
payable, duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof
or its attorney duly authorized in writing, and thereupon one or more new Debt Securities of
this series and of like tenor, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees.

     The Indenture and this Debt Security are governed by the laws of the State of New York,
without regard to conflicts of laws provisions thereof.

     The Debt Securities of this series are issuable in registered form without coupons in
minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As
provided in the Indenture and subject to certain limitations therein set forth, Debt
Securities of this series are exchangeable for a like aggregate principal amount of Debt
Securities of this series and of like tenor of a different authorized denomination, as
requested by the Holder surrendering the same.

     No service charge shall be made for any such registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any tax or other governmental
charge payable in connection therewith.

     Prior to due presentment of this Debt Security for registration of transfer, the
Company, the Guarantor, the Trustee and any agent thereof may treat the Person in whose name
this Debt Security is registered as the owner hereof for all purposes, whether or not this
Debt Security be overdue, and none of the Company, the Guarantor, the Trustee or any such
agent shall be affected by notice to the contrary.

     All terms used in this Debt Security which are not defined herein and are defined in
the Indenture shall have the meanings assigned to them in the Indenture.

 

 

GUARANTEE OF

BERKSHIRE HATHAWAY INC.

     FOR VALUE RECEIVED, Berkshire Hathaway Inc., a Delaware corporation (the “Guarantor”), hereby
absolutely, unconditionally and irrevocably guarantees to the holders (the “Holders”) of any
security authenticated and delivered (each a “Security”) by The Bank of New York Trust Company,
N.A. (as successor to J.P. Morgan Trust Company, National Association), as trustee (the “Trustee”)
under that certain Indenture, dated as of December 22, 2003 (the “Indenture”), among the Trustee,
the Guarantor and Berkshire Hathaway Finance Corporation, a Delaware corporation (“Issuer”), the
full and prompt payment when due (whether at stated maturity, by acceleration or otherwise) of all
present and future payment obligations of the Issuer pursuant to the terms of such Security and/or
the Indenture, whether direct or indirect, absolute or contingent, and whether for principal,
interest, fees, expenses, indemnification or otherwise (collectively, the “Obligations”). Nothing
herein shall be deemed to guarantee any obligation of the Issuer other than the Obligations.
Nothing herein shall be deemed to guarantee any obligation of any person or entity other than the
Issuer.

     The Guarantor’s obligations hereunder shall be unconditional and absolute, and shall not be
released, discharged or otherwise affected by (i) the existence, validity, enforceability,
perfection or extent of any collateral therefor, (ii) any lack of validity or enforceability of any
provision of the Security or the Indenture, (iii) any liquidation, bankruptcy, insolvency,
reorganization or other similar proceeding affecting the Issuer or its assets, or (iv) any other
circumstance relating to the Obligations that might otherwise constitute a legal or equitable
discharge of, or defense to, the Guarantor. The Guarantor agrees that the Holders and/or the
Trustee may resort to the Guarantor, as primary obligor and not merely as surety, for payment of
any of the Obligations whether or not the Holders or the Trustee shall have proceeded against the
Issuer or any other obligor principally or secondarily obligated with respect to any of the
Obligations. Neither the Holders nor the Trustee shall be obligated to file any claim relating to
any of the Obligations in the event that the Issuer becomes subject to a bankruptcy, reorganization
or similar proceeding, and the failure of the Holders or the Trustee to so file shall not affect
the Guarantor’s obligations hereunder. In the event that any payment to the Holders by the Issuer
in respect of any Obligations is rescinded or must otherwise be returned for any reason whatsoever,
the Guarantor shall remain liable hereunder with respect to such Obligations as if such payment had
not been made.

     The Guarantor agrees that, subject to the Indenture, the Holders and/or the Trustee may at any
time and from time to time, either before or after the maturity thereof, without notice to or
further consent of the Guarantor, extend the time of payment of, exchange or surrender any
collateral for, or renew any of the Obligations, and may also make any agreement with the Issuer or
with any other party to or person liable on any of the Obligations or interested therein, for the
extension, renewal, payment, compromise, discharge or release thereof, in whole or in part, or for
any modification of the terms thereof or of any agreement between the Holders, the Trustee and the
Issuer or any such other party or person, and that none of the foregoing shall in any way impair or
affect this Guarantee. The Guarantor hereby unconditionally and irrevocably waives, to the fullest
extent permitted by law, (a) notice of the acceptance of this Guarantee and of the
Obligations, presentment, demand for payment, notice of dishonor and protest, (b) any requirement
that any Holder exhaust any right or take any action against the Issuer, and (c) any right to
revoke this Guarantee.

     The Guarantor agrees to pay on demand all fees and out-of-pocket expenses incurred by the
Holders or the Trustee in any way relating to the enforcement or protection of the rights of the
Holders and/or the Trustee hereunder.

     Upon payment of any of the Obligations, the Guarantor shall be subrogated to the rights of the
Holders and/or the Trustee against the Issuer with respect to such Obligations, and the Holders and
the Trustee agree to take such steps, at the Guarantor’s expense, as the Guarantor may reasonably
request to implement such subrogation; provided, however, that the Guarantor shall not be entitled to

 

 

enforce, or to receive any payments arising out of or based upon, such right of subrogation
during any period in which any amount payable by the Issuer under the Security or the Indenture is
overdue or unpaid.

     No failure on the part of the Holders or the Trustee to exercise, and no delay in exercising,
any right, remedy or power hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise by the Holders or the Trustee of any right, remedy or power hereunder preclude any
other or future exercise of any right, remedy or power. Each and every right, remedy and power
hereby granted to the Holders or the Trustee or allowed any of them by law or other agreement shall
be cumulative and not exclusive of any other, and may be exercised by the Holders or the Trustee at
any time or from time to time.

     The Guarantor hereby represents and warrants that:

	 	(a)	 	the Guarantor is duly organized, validly existing and in good standing as a
corporation under the laws of the State of Delaware and has full corporate power to
execute, deliver and perform this Guarantee;
	 
	 	(b)	 	the execution, delivery and performance of this Guarantee have been and remain duly
authorized by all necessary corporate action and do not contravene any provision of the
Guarantor’s certificate of incorporation or by-laws, as amended to date, or any law,
regulation, rule, decree, order, judgment or contractual restriction binding on the
Guarantor or its assets;
	 
	 	(c)	 	all consents, licenses, clearances, authorizations and approvals of, and
registrations and declarations with, any governmental authority or regulatory body
necessary for the due execution, delivery and performance of this Guarantee have been
obtained and remain in full force and effect and all conditions thereof have been duly
complied with, and no other action by, and no notice to or filing with, any governmental
authority or regulatory body is required in connection with the execution, delivery or
performance of this Guarantee;
	 
	 	(d)	 	this Guarantee constitutes a legal, valid and binding obligation of the Guarantor
enforceable against the Guarantor in accordance with its terms, subject to bankruptcy,
insolvency, reorganization, moratorium and other laws of general applicability relating
to or affecting creditors’ rights and to general equity principles; and
	 
	 	(e)	 	there are no actions, suits or arbitration proceedings pending or, to the knowledge
of the Guarantor, threatened against it, at law or in equity, which, individually or in
the aggregate, if adversely determined, would materially adversely affect the financial
condition of the Guarantor or materially impair its ability to perform its obligations
under this Guarantee.

     The Guarantor may not assign its obligations hereunder to any person (except as permitted by
the Indenture) without the prior written consent of the Holders or the Trustee.

     All payments by the Guarantor to the Holders or the Trustee shall be made in accordance with
the provisions of the Indenture and the Security; provided, however, that payment of any fees or
expenses pursuant to the fourth paragraph hereof shall be made by wire transfer of immediately
available funds to an account at a commercial bank in the United States specified to the Guarantor
at least ten (10) days in advance of any demand for payment by the Holders or the Trustee.

 

 

     All notices or demands on the Guarantor shall be deemed effective when received, shall be in
writing and shall be delivered by hand or by registered mail, or by facsimile transmission promptly
confirmed by registered mail, addressed to the Guarantor at:

Berkshire Hathaway Inc.

1440 Kiewit Plaza

Omaha, NE 68131

Attention: Chief Financial Officer

Facsimile: (402) 346-3375

or to such other addresses or facsimile numbers as the Guarantor shall have notified the Holders or
the Trustee in a written notice delivered in accordance with the Indenture.

     This Guarantee shall remain in full force and effect and shall be binding on the Guarantor,
its successors and assigns until all of the Obligations have been satisfied in full.

     This Guarantee shall be governed by, and construed in accordance with, the laws of the State
of New York applicable to contracts made and to be performed solely within such State.

     No amendment or waiver of any provision of this Guarantee shall in any event be effective
unless the same shall be in writing and signed by the Trustee and the Guarantor.

     If for any reason any provision or provisions hereof are determined to be invalid and contrary
to any existing or future law, such invalidity shall not, to the fullest extent permitted by law,
impair the operation of or effect of those portions of this Guarantee that are valid.

     THE GUARANTOR WAIVES ANY RIGHT IT MAY HAVE TO A JURY TRIAL IN CONNECTION WITH ANY ACTION, SUIT
OR PROCEEDING ARISING OUT OF OR RELATED IN ANY WAY TO THIS GUARANTEE.

	 
	 	 	 	 	 
	Dated: September 19, 2007      	BERKSHIRE HATHAWAY INC.

 	 
	 	By:  	
 	 
	 	 	Name:  	Marc D.  Hamburg 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

 

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY

The following increases or decreases in this Debt Security have been made:

	 	 	 	 	 	 	 	 	 
	Date of exchange	 	Amount of decrease in	 	Amount of increase in	 	principal amount of this	 	Signature of authorized
	 	 	principal amount of	 	principal amount of this	 	Debt Security following	 	signatory of Trustee or
	 	 	this Debt Security	 	Debt Security	 	such decrease or increase	 	Security Custodian
	 

	 	 
	 	 
	 	 
	 	 

 

 

ASSIGNMENT

     FOR VALUE RECEIVED, the undersigned assigns and transfers this Debt Security to:

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 
	 
	 	 	 	 	 	 
	 	 	 

(Insert assignee’s social security or tax identification number)

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 
	 
	 	 	 	 	 	 
	 	 	 
	 
	 	 	 	 	 	 
	 	 	 

(Insert address and zip code of assignee)

and irrevocably appoints                      as agent to transfer this Debt Security on the
Security Register. The agent may substitute another to act for him or her.

	 	 	 
	Dated:

	 	     Signature:
	 
	 	 
	 

	 	Signature Guarantee:

(Sign exactly as your name appears on the other side of this Debt Security)

     Signatures must be guaranteed by an “eligible guarantor institution” meeting the
requirements of the Security Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other
“signature guarantee program” as may be determined by the Security Registrar in addition to,
or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934,
as amended.exv4w4

 

 

    Exhibit
    4.4

 

    THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE
    ATTENTION. If you are in any doubt as to the action to be taken,
    you should immediately consult your broker, bank manager,
    lawyer, accountant, investment advisor or other
    professional.

 

    This document relates to an exchange offer (the
    “Exchange Offer”) made by Berkshire Finance
    Corporation (“BHFC”). The Exchange Offer is
    described in the Prospectus,
    dated          ,
    2007 (the “Prospectus”), and in this Letter of
    Transmittal (this “Letter of Transmittal”). All
    terms and conditions contained or otherwise referred to in the
    Prospectus are deemed to be incorporated in and form a part of
    this Letter of Transmittal. Therefore, you are urged to read the
    Prospectus and the items referred to therein carefully. The
    terms and conditions contained in the Prospectus, together with
    the terms and conditions governing this Letter of Transmittal
    and the instructions herein, are collectively referred to below
    as the “terms and conditions.”

 

    LETTER OF
    TRANSMITTAL

    Relating to

    the Offer by Berkshire Hathaway
    Finance Corporation

    to
    Exchange 5.125% Senior Notes Due 2012,

    unconditionally guaranteed by
    Berkshire Hathaway Inc.

    (“Registered
    Notes”)

    For

    5.125% Senior Notes Due
    2012,

    unconditionally guaranteed by
    Berkshire Hathaway Inc.

    (“Outstanding
    Notes”)

 

    The Exchange Offer for the
    Outstanding Notes will expire at 5:00 p.m., New York City
    time,
    on          ,
    2007, unless extended by BHFC (the “Expiration
    Date”).

 

 

    Each holder of Outstanding Notes wishing to accept the Exchange
    Offer, except holders of Outstanding Notes executing their
    tenders through the Automated Tender Offer Program
    (“ATOP”) procedures of The Depository Trust
    Company (“DTC”), should complete, sign and
    submit this Letter of Transmittal to the exchange agent, The
    Bank of New York Trust Company, N.A. (the “Exchange
    Agent”), on or prior to the Expiration Date.

 

    The Bank
    of New York Trust

    Corporate
    Trust Dept. – Reorganization Unit

    101 Barclay Street, 7E

    New York, NY 10286
    

 

    Delivery of this Letter of Transmittal to an address, or
    transmission of instructions via a facsimile number, other than
    as set forth above or in accordance with the instructions
    herein, will not constitute valid delivery. The instructions
    accompanying this Letter of Transmittal should be read carefully
    before this Letter of Transmittal is completed.

 

    Questions regarding the Exchange Offer or the completion of this
    Letter of Transmittal should be directed to the Exchange Agent,
    at:
    1-[          ].

 

    This Letter of Transmittal may be used to accept the Exchange
    Offer if Outstanding Notes are to be tendered by effecting a
    book-entry transfer into the Exchange Agent’s account at
    DTC and instructions are not being transmitted through
    DTC’s ATOP procedures. Unless you intend to tender
    Outstanding Notes through ATOP, you should complete, execute and
    deliver this Letter of Transmittal, along with the physical
    certificates for the Outstanding Notes specified herein, to
    indicate the action you desire to take with respect to the
    Exchange Offer.

 

    Holders of Outstanding Notes tendering by book-entry transfer to
    the Exchange Agent’s account at DTC may execute the tender
    through ATOP, for which the Exchange Offer is eligible.
    Financial institutions that are DTC participants may execute
    tenders through ATOP by transmitting acceptance of the Exchange
    Offer to DTC on or prior to the Expiration Date. DTC will verify
    acceptance of the Exchange Offer, execute a book-entry transfer
    of the tendered Outstanding Notes into the account of the
    Exchange Agent at DTC and send to the Exchange Agent a
    “book-entry confirmation,” which shall include an
    agent’s message. An “agent’s message” is a
    message, transmitted by DTC to, and received by, the Exchange
    Agent and forming part of a book-entry confirmation, which
    states that DTC has received an express acknowledgement from a
    DTC participant tendering Outstanding Notes that the participant
    has received and agrees to be bound by the terms of the Letter
    of Transmittal as an undersigned thereof and BHFC may enforce
    such agreement against the participant. Delivery of the
    agent’s message by DTC will satisfy the terms of the
    Exchange Offer as to execution and delivery of a Letter of
    Transmittal by the DTC participant identified in the
    agent’s message. Accordingly, holders who tender their
    Outstanding Notes through DTC’s ATOP procedures shall be
    bound by, but need not complete, this Letter of Transmittal.

 

    Subject to the terms and conditions and applicable law, BHFC
    will issue: for each $1,000 principal amount of Outstanding
    Notes, $1,000 principal amount of Registered Notes.

 

    Outstanding Notes may be exchanged in minimum denominations of
    $1,000 and integral multiples of $1,000 in excess thereof.
    Registered Notes will be issued in minimum denominations of
    $1,000 and integral multiples of $1,000 in excess thereof.

 

    Holders that anticipate tendering other than through DTC are
    urged to promptly contact a bank, broker or other intermediary
    (that has the capability to hold cash and securities custodially
    through DTC) to arrange for receipt of any Registered Notes to
    be delivered pursuant to the Exchange Offer and to obtain the
    information necessary to provide the required DTC participant
    and account information in this Letter of Transmittal.

 

    Registered Notes will be issued in exchange for Outstanding
    Notes in the Exchange Offer, if consummated, as soon as
    practicable after the Expiration Date of the Exchange Offer (the
    “Settlement Date”).

    

    2

 

    TENDER OF OUTSTANDING NOTES

 

    To effect a valid tender of Outstanding Notes through the
    completion, execution and delivery of this Letter of
    Transmittal, the undersigned must complete the table below
    entitled “Description of Outstanding
    Notes Tendered” and sign the Letter of Transmittal
    where indicated.

 

    Registered Notes will be delivered in book-entry form to holders
    through DTC and only to the DTC account of the undersigned or
    the undersigned’s custodian, as specified below, on the
    Settlement Date, or as soon as practicable thereafter.

 

    Failure to provide the information necessary to effect delivery
    of Registered Notes will render such holder’s tender
    defective, and BHFC will have the right, which it may waive, to
    reject such tender without notice.

 

	 	 	 	 	 	 	 
	
    DESCRIPTION OF OUTSTANDING
    NOTES TENDERED

    

	
    (See Instructions 2 and 3)

    

	
    

    NOTE: SIGNATURES MUST BE PROVIDED BELOW.

    

	
    

    PLEASE READ THE ACCOMPANYING INSTRUCTIONS CAREFULLY.

	
 
	
 
	
 
	
    Name of DTC Participant and Participant’s

    
	
 
	
 
	
 

	
 
	
 
	
 
	
    Account Number in Which Outstanding Notes

    
	
 
	
 
	
    Aggregate Principal

    

	
    Outstanding Notes

    
	
 
	
 
	
    are Held and/or the Corresponding Registered

    
	
 
	
 
	
    Amount of

    

	
    Being Tendered
	
 
	
 
	
    Notes are to be Delivered.
	
 
	
 
	
    Outstanding Notes*

	
    5.125% Senior Notes

    Due 2012
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
    (CUSIP: 084664AU5)
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	

    * The principal amount of Outstanding Notes tendered
    hereby must be in denominations of U.S.$1,000 and integral
    multiples of U.S.$1,000 in excess thereof with a minimum tender
    requirement of U.S.$1,000. See Instruction 3.

	
 
	
 
	
 
	
 
	
 
	
 
	
 

    

    3

 

    If the aggregate principal amount of the Outstanding Notes
    specified was held as of the date of tender by more than one
    beneficial owner, you may specify below the break-down of this
    aggregate principal amount by beneficial owner, and, in doing
    so, hereby instruct the Exchange Agent to treat each such
    beneficial owner as a separate holder. If the space below is
    inadequate, attach a separate signed schedule using the same
    format.

 

	 	 	 	 
	
    Beneficial Owner Name or Account Number
	
 
	
 
	
    Principal Amount of Outstanding Notes

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	

    Total:

	
 
	
 
	
 

	
 
	
 
	
 
	
 

 

	 	 	 	 	 	 	 
	
    SPECIAL RETURN INSTRUCTIONS

    

	
    

    To be completed ONLY if Outstanding Notes not accepted for
    exchange are to be sent to someone other than the

    

	
    person or persons whose signature(s) appear(s) within this
    Letter of Transmittal.

    

	
    

    (See Instruction 5)

	
 
	
 
	
 
	
    Name of DTC Participant and Participant’s

    
	
 
	
 
	
 

	
 
	
 
	
 
	
    Account Number to Which Outstanding Notes

    
	
 
	
 
	
 

	
 
	
 
	
 
	
    Not Accepted for Exchange are to be Delivered. 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

    

    4

 

    Note: Signatures must be provided below.

    Please read the accompanying Instructions carefully.

 

    Ladies and Gentlemen:

 

    The undersigned hereby tenders to BHFC the aggregate principal
    amount of Outstanding Notes indicated in the table above
    entitled “Description of Outstanding
    Notes Tendered.”

 

    The undersigned understands that validly tendered Outstanding
    Notes (or defectively tendered Outstanding Notes with respect to
    which BHFC has, or has caused to be, waived such defect) will be
    deemed to have been accepted by BHFC if, as and when BHFC gives
    oral or written notice thereof to the Exchange Agent. The
    undersigned understands that subject to the terms and
    conditions, Outstanding Notes properly tendered and accepted
    (and not validly withdrawn) in accordance with the terms and
    conditions will be exchanged for Registered Notes. The
    undersigned understands that Outstanding Notes delivered hereby
    may be withdrawn at any time on or prior to the Expiration Date.
    The undersigned understands that Outstanding Notes delivered
    hereby may not be withdrawn at any time after the Expiration
    Date unless the Exchange Offer is extended with changes in the
    terms of the Exchange Offer that are, in the reasonable judgment
    of BHFC, materially adverse to the tendering holder. The
    undersigned understands that, under certain circumstances, BHFC
    may not be required to accept any of the Outstanding Notes
    tendered (including any Outstanding Notes tendered after the
    Expiration Date). If any Outstanding Notes are not accepted for
    exchange for any reason (or if Outstanding Notes are validly
    withdrawn), such unexchanged (or validly withdrawn) Outstanding
    Notes will be returned without expense to the undersigned’s
    account at DTC or such other account as designated herein
    pursuant to the book-entry transfer procedures described in the
    Prospectus, as promptly as practicable after the expiration or
    termination of the Exchange Offer.

 

    Following the later of the Expiration Date or the date upon
    which Outstanding Notes are tendered hereby, and subject to and
    effective upon BHFC’s acceptance for exchange of the
    principal amount of the Outstanding Notes tendered hereby, upon
    the terms and conditions, the undersigned hereby:

 

			
	 	    (1) 
	
    irrevocably sells, assigns and transfers to or upon the order of
    BHFC or its nominees, all right, title and interest in and to,
    and any and all claims in respect of or arising or having arisen
    as a result of the undersigned’s status as a holder of, all
    Outstanding Notes tendered hereby, such that thereafter it shall
    have no contractual or other rights or claims in law or equity
    against BHFC, Berkshire Hathaway or any fiduciary, trustee,
    fiscal agent or other person connected with the Outstanding
    Notes arising under, from or in connection with such Outstanding
    Notes;

	 
	 	    (2) 
	
    waives any and all rights with respect to the Outstanding Notes
    tendered hereby (including, without limitation, any existing or
    past defaults and their consequences in respect of such
    Outstanding Notes); and

	 
	 	    (3) 
	
    releases and discharges BHFC, Berkshire Hathaway and The Bank of
    New York Trust Company, N.A., as trustee (the
    “Trustee”) from any and all claims the undersigned
    may have, now or in the future, arising out of or related to the
    Outstanding Notes tendered hereby, including, without
    limitation, any and all claims that the undersigned is entitled
    to receive additional principal or interest payments with
    respect to the Outstanding Notes tendered hereby (other than
    accrued and unpaid interest on the Outstanding Notes) or to
    participate in any redemption or defeasance of the Outstanding
    Notes tendered hereby.

 

    The undersigned understands that tenders of Outstanding Notes
    pursuant to any of the procedures described in the Prospectus
    and in the instructions in this Letter of Transmittal and
    acceptance of such Outstanding Notes by BHFC will, following
    such acceptance, constitute a binding agreement between the
    undersigned and BHFC upon the terms and conditions.

 

    All authority conferred or agreed to be conferred by this Letter
    of Transmittal shall not be affected by, and shall survive, the
    death or incapacity of the undersigned, and any obligation of
    the undersigned hereunder shall be binding upon the heirs,
    executors, administrators, trustees in bankruptcy, personal and
    legal representatives, successors and assigns of the undersigned.

 

    The undersigned hereby represents, warrants and agrees that:

 

			
	 	     (1) 
	
    it has received and reviewed the Prospectus;

	 
	 	     (2) 
	
    it is the beneficial owner (as defined below) of, or a duly
    authorized representative of one or more such beneficial owners
    of, the Outstanding Notes tendered hereby and it has full power
    and authority to execute this Letter of Transmittal;

    

    5

 

 

			
	 	     (3) 
	
    the Outstanding Notes being tendered hereby were owned as of the
    date of tender, free and clear of any liens, charges, claims,
    encumbrances, interests and restrictions of any kind, and BHFC
    will acquire good, indefeasible and unencumbered title to such
    Outstanding Notes, free and clear of all liens, charges, claims,
    encumbrances, interests and restrictions of any kind, when the
    same are accepted by BHFC;

	 
	 	     (4) 
	
    it will not sell, pledge, hypothecate or otherwise encumber or
    transfer any Outstanding Notes tendered hereby from the date of
    this Letter of Transmittal and agrees that any purported sale,
    pledge, hypothecation or other encumbrance or transfer will be
    void and of no effect;

	 
	 	     (5) 
	
    in evaluating the Exchange Offer and in making its decision
    whether to participate therein by submitting this Letter of
    Transmittal and tendering its Outstanding Notes, the undersigned
    has made its own independent appraisal of the matters referred
    to in the Prospectus and in any related communications and is
    not relying on any statement, representation or warranty,
    express or implied, made to such holder by BHFC, Berkshire
    Hathaway or the Exchange Agent other than those contained in the
    Prospectus (as amended or supplemented to the Expiration Date);

	 
	 	     (6) 
	
    the execution and delivery of this Letter of Transmittal shall
    constitute an undertaking to execute any further documents and
    give any further assurances that may be required in connection
    with any of the foregoing, in each case on and subject to the
    terms and conditions;

	 
	 	     (7) 
	
    the submission of this Letter of Transmittal to the Exchange
    Agent shall, subject to a holder’s ability to withdraw its
    tender prior to the Expiration Date, and subject to terms and
    conditions of the Exchange Offer generally, constitute the
    irrevocable appointment of the Exchange Agent as its attorney
    and agent, and an irrevocable instruction to such attorney and
    agent to complete and execute all or any form(s) of transfer and
    other document(s) at the discretion of such attorney and agent
    in relation to the Outstanding Notes tendered hereby in favor of
    BHFC or such other person or persons as they may direct and to
    deliver such form(s) of transfer and other document(s) in the
    attorney’s and/or agent’s discretion and the
    certificate(s) and other document(s) of title relating to such
    Outstanding Notes’ registration and to execute all such
    other documents and to do all such other acts and things as may
    be in the opinion of such attorney or agent necessary or
    expedient for the purpose of, or in connection with, the
    acceptance of the Exchange Offer, and to vest in BHFC or its
    nominees such Outstanding Notes; and

	 
	 	     (8) 
	
    it is acquiring the Registered Notes in its ordinary course of
    business and has no arrangement or understanding with any person
    to participate in the distribution of the Registered Securities
    to be received in the Exchange Offer;

	 
	 	     (9) 
	
    if it is a broker-dealer holding Outstanding Notes acquired for
    its own account as a result of market-making or other trading
    activities, it will deliver a prospectus meeting the
    requirements of the Securities Act of 1933 in connection with
    any resale of the Registered Notes received pursuant to the
    Exchange Offer (provided, that, by so agreeing and by delivering
    a prospectus, any such broker-dealer will not be deemed to admit
    that it is an “underwriter” within the meaning of the
    Securities Act of 1933); and

	 
	 	    (10) 
	
    the terms and conditions shall be deemed to be incorporated in,
    and form a part of, this Letter of Transmittal, and the terms
    and conditions shall be read and construed accordingly.

 

    BHFC hereby informs any holder of Outstanding Notes using the
    Exchange Offer to participate in a distribution of the
    Registered Notes to be acquired in the Exchange Offer that any
    such holder (1) can not rely on the position of the
    SEC’s staff enunciated in Exxon Capital Holdings
    Corporation (pub. avail. May 13, 1988) or similar
    letters and (2) must comply with the registration and
    prospectus delivery requirements of the Securities Act in
    connection with a secondary resale transaction of the Exchange
    Notes.

 

    The representations and warranties and agreements of a holder
    tendering Outstanding Notes shall be deemed to be repeated and
    reconfirmed on and as of the Expiration Date and the Settlement
    Date. For purposes of this Letter of Transmittal, the
    “beneficial owner” of any Outstanding Notes
    shall mean any holder that exercises sole investment discretion
    with respect to such Outstanding Notes.

 

    The undersigned understands that tenders may not be withdrawn at
    any time after the Expiration Date except as set forth in the
    Prospectus, unless the Exchange Offer is extended with changes
    to the terms and conditions that are, in the reasonable
    judgement of BHFC, materially adverse to the undersigned, in
    which case tenders may be withdrawn under the conditions
    described in the extension.

    

    6

 

    If the Exchange Offer is amended in a manner determined by BHFC
    to be materially adverse to tendering holders, BHFC will extend
    the Exchange Offer for a period of two to ten business days,
    depending on the significance of the amendment and the manner of
    disclosure to such holders, if the Exchange Offer would
    otherwise have expired during such two- to ten-business day
    period. Any change in the consideration offered to holders of
    Outstanding Notes in the Exchange Offer shall be paid to all
    holders of Outstanding Notes whose securities have previously
    been tendered and not withdrawn pursuant to the Exchange Offer.

 

    If the “Special Return Instructions” box (found above)
    is completed, please credit the indicated DTC account for any
    book-entry transfers of Outstanding Notes not accepted for
    exchange.

 

    The undersigned recognizes that BHFC has no obligation under the
    “Special Return Instructions” provision of this Letter
    of Transmittal to effect the transfer of any Outstanding Notes
    from the holder(s) of such Outstanding Notes if BHFC does not
    accept for exchange any of the principal amount of the
    Outstanding Notes tendered pursuant to this Letter of
    Transmittal.

    

    7

 

 

    SIGN
    HERE

 

    By completing, executing and delivering this Letter of
    Transmittal, the undersigned hereby tenders to BHFC the
    principal amount of the Outstanding Notes listed in the table
    set forth above labeled “Description of Outstanding
    Notes Tendered.”

 

	 	 	 
	
 
	
 
	
 

	
 
	
 
	
 

	
    
Signature
    of Registered Holder(s) or Authorized Signatory

    (see guarantee requirement below)
	
 
	
    
Date

	
 
	
 
	
 

	
    
Signature
    of Registered Holder(s) or Authorized Signatory

    (see guarantee requirement below)
	
 
	
    
Date

	
 
	
 
	
 

	
    
Signature
    of Registered Holder(s) or Authorized Signatory

    (see guarantee requirement below)
	
 
	
    
Date

 

     
Area
    Code and Telephone
    Number: ­
    ­

 

    If a holder of Outstanding Notes is tendering any Outstanding
    Notes, this Letter of Transmittal must be signed by the
    Registered Holder(s) exactly as the name(s) appear(s) on a
    securities position listing of DTC or by any person(s)
    authorized to become the Registered Holder(s) by endorsements
    and documents transmitted herewith. If the signature is by a
    trustee, executor, administrator, guardian,
    attorney-in-fact,
    officer or other person, acting in a fiduciary or representative
    capacity, please set forth at the line entitled “Capacity
    (full title)” and submit evidence satisfactory to the
    Exchange Agent and BHFC of such person’s authority to so
    act. See Instruction 4.

 

     
Name(s): ­
    ­

 

    (Please Type or Print)

 

     
Capacity
    (full title): 

 

     
Address: 

    (Including Zip Code)

 

    MEDALLION
    SIGNATURE GUARANTEE

    (If required — See Instruction 4)

    Signature(s) Guaranteed by

    an Eligible
    Institution: ­
    ­

    (Authorized Signature)

 

    (Title)

 

    (Name of Firm)

 

    (Address)

 

     
Dated: ­
    ­,
    2007

 

    

    8

 

 

    An “eligible institution” is one of the following
    firms or other entities identified in
    Rule l7Ad-15
    under the Securities Exchange Act of 1934 (as the terms are used
    in
    Rule 17Ad-15):

 

			
	 	    (a) 
	
    a bank;

 

			
	 	    (b) 
	
    a broker, dealer, municipal securities dealer, municipal
    securities broker, government securities dealer or government
    securities broker;

 

			
	 	    (c) 
	
    a credit union;

 

			
	 	    (d) 
	
    a national securities exchange, registered securities
    association or clearing agency; or

 

			
	 	    (e) 
	
    a savings institution that is a participant in a Securities
    Transfer Association recognized program.

 

    If any of the Outstanding Notes tendered are held by two or more
    Registered Holders, all of the Registered Holders must sign the
    Letter of Transmittal.

 

    BHFC will not accept any alternative, conditional, irregular or
    contingent tenders. By executing the Letter of Transmittal (or
    facsimile thereof) or directing DTC to transmit an agent’s
    message, you waive any right to receive any notice of the
    acceptance of your Outstanding Notes for exchange.

 

    If this Letter of Transmittal or instruments of transfer are
    signed by trustees, executors, administrators, guardians or
    attorneys-in-fact,
    officers of corporations or others acting in a fiduciary or
    representative capacity, such persons should so indicate when
    signing and, unless waived by BHFC, evidence satisfactory to
    BHFC of their authority to so act must be submitted with this
    Letter of Transmittal.

 

    Beneficial owners whose tendered Outstanding Notes are
    registered in the name of a broker, dealer, commercial bank,
    trust company or other nominee must contact such broker, dealer,
    commercial bank, trust company or other nominee if they desire
    to tender such Outstanding Notes.

 

    5. Special Return Instructions.  All
    Outstanding Notes tendered hereby and not accepted for exchange
    will be returned to the undersigned according to the information
    provided in the table entitled “Description of the
    Outstanding Notes Tendered” or, if completed,
    according to the “Special Return Instructions” box in
    this Letter of Transmittal.

 

    6. Transfer Taxes.  Except as set forth in
    this Instruction 6, BHFC will pay or cause to be paid any
    transfer taxes with respect to the transfer and sale of
    Outstanding Notes to it, or to its order, pursuant to the
    Exchange Offer. If payment is to be made to, or if Outstanding
    Notes not tendered or purchased are to be registered in the name
    of any persons other than the Registered Holder, or if tendered
    Outstanding Notes are registered in the name of any persons
    other than the persons signing this Letter of Transmittal, the
    amount of any transfer taxes (whether imposed on the Registered
    Holder or such other person) payable on account of the transfer
    to such other person will be deducted from the payment unless
    satisfactory evidence of the payment of such taxes or exemption
    therefrom is submitted.

 

    7. Validity of Tenders.  All questions
    concerning the validity, form, eligibility (including time of
    receipt), acceptance and withdrawal of tendered Outstanding
    Notes will be determined by BHFC in its sole discretion, which
    determination will be final and binding. BHFC reserves the
    absolute right to reject any and all tenders of Outstanding
    Notes not in proper form or any Outstanding Notes the acceptance
    for exchange of which may, in the opinion of its counsel, be
    unlawful. BHFC also reserves the absolute right to waive any
    defect or irregularity in tenders of Outstanding Notes, whether
    or not similar defects or irregularities are waived in the case
    of other tendered securities. The interpretation of the terms
    and conditions by BHFC shall be final and binding on all
    parties. Unless waived, any defects or irregularities in
    connection with tenders of Outstanding Notes must be cured
    within such time as BHFC shall determine. None of BHFC, the
    Exchange Agent or any other person will be under any duty to
    give notification of defects or irregularities with respect to
    tenders of Outstanding Notes, nor shall any of them incur any
    liability for failure to give such notification.

 

    Tenders of Outstanding Notes will not be deemed to have been
    made until such defects or irregularities have been cured or
    waived. Any Outstanding Notes received by the Exchange Agent
    that are not validly tendered and as to which the defects or
    irregularities have not been cured or waived will be returned by
    the Exchange Agent to the

    

    9

 

    holders of Outstanding Notes, unless otherwise provided in this
    Letter of Transmittal, as soon as practicable following the
    Expiration Date or the withdrawal or termination of the Exchange
    Offer.

 

    8. Waiver of Conditions.  BHFC reserves
    the absolute right to amend or waive any of the conditions in
    the Exchange Offer concerning any Outstanding Notes at any time.

 

    9. Withdrawal.  Tenders may be withdrawn
    only pursuant to the procedures and subject to the terms set
    forth in the Prospectus under the caption “The Exchange
    Offer — Withdrawal of Tenders.”

 

    10. Requests for Assistance or Additional
    Copies.  Questions and requests for assistance and
    requests for additional copies of the Prospectus and this Letter
    of Transmittal may be directed to the Exchange Agent at the
    address and telephone number indicated herein.

 

    11. Tax Identification Number.  Federal
    income tax law requires that a U.S. Holder (defined below)
    whose Outstanding Notes are accepted for exchange must provide
    the Exchange Agent with his, her or its correct Taxpayer
    Identification Number (“TIN”), which, in the
    case of an exchanging U.S. Holder who is an individual, is
    his or her social security number. If the Exchange Agent is not
    provided with the correct TIN or an adequate basis for
    exemption, such holder may be subject to a $50 penalty imposed
    by the Internal Revenue Service (the “IRS”),
    and payments made with respect to the Registered Notes or the
    Exchange Offer may be subject to backup withholding at a rate of
    30% (subject to periodic reductions through 2010, at which time
    the rate is currently scheduled to be increased to 31%). If
    withholding results in an overpayment of taxes, a refund may be
    obtained.

 

    To prevent backup withholding, each exchanging U.S. Holder
    must provide his, her or its correct TIN by completing an IRS
    Form W-9,
    certifying that the TIN provided is correct (or that such
    U.S. Holder is awaiting a TIN) and that the
    U.S. Holder is exempt from backup withholding because
    (i) the holder has been notified by the IRS that he, she or
    it is subject to backup withholding as a result of a failure to
    report all interests or dividends, or (ii) the IRS has
    notified the U.S. Holder that he, she or it is no longer
    subject to backup withholding. If you do not provide your TIN to
    the Exchange Agent within 60 days, backup withholding may
    begin and continue until you furnish your TIN.

 

    Exempt holders (including, among others, all corporations and
    certain foreign individuals) are not subject to these
    withholding and reporting requirements. In order to satisfy BHFC
    that a foreign individual qualifies as an exempt recipient, such
    holder must submit a properly completed IRS
    Form W-8BEN
    (or other applicable form) certifying, under penalty of perjury,
    to such holder’s foreign status in order establish an
    exemption from backup withholding.

 

    For the purposes of these instructions, a
    “U.S. Holder” is (i) a citizen or
    resident of the United States, (ii) a corporation, or other
    entity taxable as a corporation for U.S. federal income tax
    purposes, created or organized in or under the laws of the
    United States or of any political subdivision thereof, or
    (iii) an estate or trust the income of which is subject to
    United States federal income taxation regardless of its source.

 

    12. The exchange of Outstanding Notes for Registered
    Notes will not be a taxable event for U.S. federal income
    tax purposes. See “Material United States Federal Income
    Tax Consequences” in the Prospectus.

 

    In order to tender, a holder of Outstanding Notes should send or
    deliver a properly completed and signed Letter of Transmittal
    and any other required documents to the Exchange Agent at its
    address set forth below or tender pursuant to DTC’s
    Automated Tender Offer Program.

 

    The Exchange Agent for the Exchange Offer is:

 

    The Bank
    of New York Trust

    Corporate
    Trust Dept. – Reorganization Unit

    101 Barclay Street, 7E

    New York, NY 10286
    

 

    Any questions or requests for assistance or for additional
    copies of the Prospectus, this Letter of Transmittal, or related
    documents may be directed to the Exchange Agent at
    1-212-815-3738.
    A holder of Outstanding Notes may also contact such
    holder’s custodian bank, depositary, broker, trust company
    or other nominee for assistance concerning the Exchange Offer.

    

    10

 

 

    INSTRUCTIONS
    FORMING PART OF THE TERMS AND

    CONDITIONS OF THE EXCHANGE OFFER

 

    1. Delivery of Letter of
    Transmittal.  This Letter of Transmittal is to be
    completed by tendering holders of Outstanding Notes if tender of
    such Outstanding Notes is to be made by book-entry transfer to
    the Exchange Agent’s account at DTC and instructions are
    not being transmitted through ATOP. Holders who tender their
    Outstanding Notes through DTC’s ATOP procedures shall be
    bound by, but need not complete, this Letter of Transmittal;
    thus, a Letter of Transmittal need not accompany tenders
    effected through ATOP.

 

    A confirmation of a book-entry transfer into the Exchange
    Agent’s account at DTC of all Outstanding Notes delivered
    electronically, as well as a properly completed and duly
    executed Letter of Transmittal (or a manually signed facsimile
    thereof) or properly transmitted agent’s message, and any
    other documents required by this Letter of Transmittal, must be
    received by the Exchange Agent at its address set forth herein
    on or prior to the Expiration Date.

 

    Any financial institution that is a participant in DTC may
    electronically transmit its acceptance of the Exchange Offer by
    causing DTC to transfer Outstanding Notes to the Exchange Agent
    in accordance with DTC’s ATOP procedures for such transfer
    on or prior to the Expiration Date. The Exchange Agent will make
    available its general participant account at DTC for the
    Outstanding Notes for purposes of the Exchange Offer.

 

    Delivery of a Letter of Transmittal to DTC will not
    constitute valid delivery to the Exchange Agent. No Letter
    of Transmittal should be sent to BHFC or DTC.

 

    The method of delivery of this Letter of Transmittal and all
    other required documents, including delivery through DTC and any
    acceptance or agent’s message delivered through ATOP, is at
    the option and risk of the tendering holder. If delivery is by
    mail, registered mail, with return receipt requested and
    properly insured, is recommended. Instead of delivery by mail,
    it is recommended that the holder use an overnight or
    hand-delivery service. In all cases, sufficient time should be
    allowed to ensure timely delivery.

 

    Neither BHFC nor the Exchange Agent is under any obligation to
    notify any tendering holder of Outstanding Notes of BHFC’s
    acceptance of tendered Outstanding Notes prior to the Expiration
    Date.

 

    2. Delivery of the Registered
    Notes.  Registered Notes to be issued according to
    the terms of the Exchange Offer, if consummated, will be
    delivered in book-entry form to holders of Outstanding Notes
    tendered in the Exchange Offer. In order to permit such
    delivery, the appropriate DTC participant name and number (along
    with any other required account information) must be provided in
    the table entitled “Description of the Outstanding
    Notes.” Failure to do so will render a tender of the
    Outstanding Notes defective, and BHFC will have the right, which
    it may waive, to reject such delivery. Holders that anticipate
    participating in the Exchange Offer other than through DTC are
    urged to promptly contact a bank, broker or other intermediary
    (that has the capability to hold securities custodially through
    DTC) to arrange for receipt of any Registered Notes delivered
    pursuant to the Exchange Offer and to obtain the information
    necessary to complete the table.

 

    3. Amount of Tenders.  Tenders of
    Outstanding Notes will be accepted in denominations of
    U.S. $1,000 and integral multiples of U.S.$1,000 in excess
    thereof with a minimum tender requirement of $1,000. Book-entry
    transfers to the Exchange Agent should be made in the exact
    principal amount of Outstanding Notes tendered.

 

    4. Signatures on Letter of Transmittal; Instruments of
    Transfer; Guarantee of Signatures.  For purposes
    of this Letter of Transmittal, the term “Registered
    Holder” means an owner of record as well as any DTC
    participant that has Outstanding Notes credited to its DTC
    account. Except as otherwise provided below, all signatures on
    this Letter of Transmittal must be guaranteed by a recognized
    participant in the Securities Transfer Agents Medallion Program,
    the NYSE Medallion Signature Program or the Stock Exchange
    Medallion Program (each, a “Medallion Signature
    Co-Obligor”). Signatures on the Letter of Transmittal
    need not be guaranteed if:

 

			
	 	    • 
	
    the Letter of Transmittal is signed by a participant in DTC
    whose name appears on a security position listing as the owner
    of the Outstanding Notes and the holder(s) has not completed the
    box entitled “Special Return Instructions” on the
    Letter of Transmittal; or

	 
	 	    • 
	
    the Outstanding Notes are tendered for the account of an
    “eligible institution.”

    

    11

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