Company: TDBCP
Filing Date: 2025-02-26
Form Type: 424B3
Source: 0001140361-25-006064
Chunk: 28

Company: TORONTO DOMINION BANK
Filing Date: 2025-02-26
Form: 424B3
Chunk 28
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 More Than One Valuation Date If the Final Level will be determined over more than one Valuation Date as the arithmetic average of the closing prices of the Reference Asset on each of the Valuation Dates, and a market disruption event occurs or is continuing with respect to a Reference Asset on any scheduled Valuation Date (including the Final Valuation Date), the closing level of the affected Reference Asset for that Valuation Date will equal its closing level on the first trading day on which a market disruption event has not occurred, is not continuing and which is not otherwise scheduled to be a Valuation Date (a “valid date”). If the first succeeding valid date in respect of the affected Reference Asset has not occurred as of the close of trading on the eighth trading day immediately following the original date that, but for the occurrence of another Valuation Date or market disruption event, would have been the Valuation Date, then (1) that eighth trading day will be deemed to be the Valuation Date (irrespective of whether that eighth trading day is already a Valuation Date), and (2) the Calculation Agent will determine the closing level on such day as specified above. If the Calculation Agent postpones the determination of a closing level on a Valuation Date and therefore postpones the determination of the Final Level, the Calculation Agent may also adjust the Maturity Date to maintain the same number of Business Days between the last Valuation Date, as postponed, and the Maturity Date as originally existed. Market Disruption Events on the Pricing Date The Calculation Agent may also postpone the determination of the Initial Level of the Reference Asset on the Pricing Date if it determines that a market disruption event has occurred or is continuing with respect to a Reference Asset on that date. If the Pricing Date is postponed, the Calculation Agent may adjust the Valuation Date(s) (including the Final Valuation Date, if applicable) and Maturity Date to ensure that the stated term of the notes remains the same. Notwithstanding the occurrence of one or more of the events below, which may constitute a market disruption event, the Calculation Agent may waive its right to postpone the Pricing Date or the Valuation Date(s) (including the Final Valuation Date, if applicable), if it determines that one or more of the below events has not and is not likely to materially impair its ability to determine the closing level of the affected Reference Asset on such date. A “market disruption event” means one or more of the following events, as determined by the Calculation Agent:

| A. | the suspension of or material