Company: TDBCP
Filing Date: 2025-09-24
Form Type: 424B3
Source: 0001140361-25-035988
Chunk: 25

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-24
Form: 424B3
Chunk 25
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 suspension of or material limitation on trading, in each case, for more than two consecutive hours of trading, or during the one-half hour period preceding the close of trading, of the                                                    
 shares of the Underlying Stock (or the successor to the Underlying Stock) on the primary exchange where such shares trade, as determined by the calculation agent (without taking into account any extended or after-hours trading session); or |

| (B) | the suspension of or material limitation on trading, in each case, for more than two consecutive hours of trading, or during the one-half hour period preceding the close of trading, on the                                              
 primary exchange that trades options contracts or futures contracts related to the shares of the Underlying Stock (or the successor Underlying Stock) as determined by the calculation agent (without taking into account any extended or 
 after-hours trading session), in options contracts or futures contracts related to the shares of the Underlying Stock (or the successor Underlying Stock);                                                                                |

For the purpose of determining whether a Market Disruption Event has occurred:

| (1) | a limitation on the hours in a trading day and/or number of days of trading will not constitute a Market Disruption Event if it results from an announced change in the regular business hours 
 of the relevant exchange;                                                                                                                                                                      |

PS-22

| (2) | a decision to permanently discontinue trading in the shares of the Underlying Stock (or the successor Underlying Stock) or the relevant futures or options contracts relating to such shares 
 will not constitute a Market Disruption Event;                                                                                                                                               |

| (3) | a suspension in trading in a futures or options contract on the shares of the  Underlying Stock (or the successorUnderlying Stock), by a major securities market by reason of (a) a price change violating limits set by that securities market, (b) an imbalance of orders relating to those contracts, or (c) a disparity in bid 
 and ask quotes relating to those contracts, will each constitute a suspension of or material limitation on trading in futures or options contracts relating to the Underlying Stock;                                                                                                                                               |

| (4) | subject to paragraph (3) above, a suspension of or material limitation on trading on the relevant exchange will not include any time when that exchange is closed for trading under ordinary 
 circumstances; and                                                                                                                                                                           |

| (5) | for the purpose of clause (A) above, any limitations on trading during significant market fluctuations under NYSE Rule 80B, or any applicable rule or regulation enacted