Company: TDBCP
Filing Date: 2025-07-23
Form Type: 424B2
Source: 0001140361-25-026894
Chunk: 27

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-23
Form: 424B2
Chunk 27
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 merger, consolidation or other combination and either is not the surviving entity or is the surviving entity but substantially all the 
 outstanding shares are exchanged for or converted into other property;                                                                                                                  |

| • | a statutory share exchange involving the outstanding shares and the securities of another entity occurs, other than as part of an event described in the two bullet points above; |

| • | the Reference Asset Issuer sells or otherwise transfers its property and assets as an entirety or substantially as an entirety to another entity; |

| • | the Reference Asset Issuer effects a spin‑off—that is, issues to all holders of the Reference Asset equity securities of another issuer, other than as part of an event described in the four 
 bullet points above;                                                                                                                                                                          |

| • | the Reference Asset Issuer is liquidated, dissolved or wound up or is subject to a proceeding under any applicable bankruptcy, insolvency or other similar law; or |

| • | another entity completes a tender or exchange offer for all or substantially all of the outstanding shares of the Reference Asset Issuer. |

Notwithstanding the foregoing or the discussion below under “— Valuation of Distribution Property”, if the Reference Asset Issuer or any successor entity becomes subject to a merger or consolidation with the Bank or any of its affiliates (an “issuer merger event”), then the Calculation Agent will deem the Closing Price of the original Reference Asset on the Trading Day immediately prior to the announcement date of the issuer merger event, as applicable, to be the Closing Price of the Reference Asset on each remaining Trading Day to, and including, the Valuation Date, if applicable. Valuation of Distribution Property If a Reorganization Event occurs with respect to the Reference Asset, then the Calculation Agent will determine the Closing Price of the Reference Asset by reference to the distribution property (as discussed below). The Calculation Agent will not make any determination for a Reorganization Event, however, unless the event becomes effective (or, if the event is a spin‑off, unless the ex‑dividend date for the spin‑off occurs) after the Pricing Date and on or before the Valuation Date. For the purpose of making a determination required by a Reorganization Event, the Calculation Agent will determine the value of each type of distribution property. For any distribution property consisting of a security, the Calculation Agent will use the Closing Price for the security on the relevant date. The Calculation Agent may value other types of property in any manner it determines to be appropriate. If a holder of the Reference Asset may elect to receive different types or combinations of