Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 52

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 52
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 in respect of the Notes shall consist of Series 33 Shares. At no time shall the Corresponding Limited Recourse Trust Assets include any
dividends paid on the Series 33 Shares, any right to receive declared, but unpaid, dividends on the Series 33 Shares or any Dividend Common Shares.

The Limited Recourse Trust is a trust established under, and governed by, the laws of the Province of Manitoba and applicable laws of Canada,
governed by an amended and restated declaration of trust dated as of October 16, 2020, as amended and restated as of July 27, 2021 and further amended October 13, 2022 (and as may be further amended or restated from time to time, the
“Limited Recourse Trust Declaration”). The Limited Recourse Trust’s objective is to acquire and hold the Corresponding Limited Recourse Trust Assets in accordance with the terms of the Limited Recourse Trust Declaration. The
Limited Recourse Trustee will hold trust assets in respect of more than one series of limited recourse capital notes of the Bank. The Limited Recourse Trustee will hold the trust assets for each such series of notes separate from the trust assets
for any other series of such notes and shall deliver such trust assets only in respect of the relevant series of notes.

The Limited
Recourse Trust will only be dissolved following the earlier to occur of the following events: (a) no Notes (or any other limited recourse capital notes) are outstanding and held by a person other than the Bank (whether through (i) a cash
redemption by the Bank of all preferred shares (including the Series 33 Shares) held by the Limited Recourse Trust and corresponding cash redemption of all corresponding limited recourse capital notes (including the Notes), (ii) delivery of all
preferred shares (including the Series 33 Shares) held by the Limited Recourse Trust to holders of the corresponding limited recourse capital notes on maturity or any earlier date on which the principal amount of and interest on the corresponding
limited recourse capital notes becomes due and payable, (iii) delivery of Common Shares received by the Limited Recourse Trustee for preferred shares (including the Series 33 Shares) on a Contingent Conversion to holders of the corresponding
limited recourse capital notes, or (iv) the purchase for cancellation of all limited recourse capital notes (including the Notes)); and (b) each of the Limited Recourse Trustee and the Bank elects in writing to terminate the Limited
Recourse Trust and such