PEN Rate definition
PEN Rate means the PEN Interbank Ave (PEN05), i.e.in respect of any date, the PEN/USD average exchange rate in the interbank market, expressed as the amount of PEN per one USD, for settlement on the same day, reported by the Banco Central de Reserva del Peru (www.bcrp.gob.pe) as the "Tipo de Cambio Interbancario Promedio" at approximately 2:00 p.m., Lima time, on such date. If there is a Price Source Disruption in respect of the relevant FRA Determination Date, then the PEN Rate in respect of the FRA Determination Date shall be determined by the Calculation Agent in accordance with the provisions set forth below under paragraph (v) (Other terms relating to the method of calculating the Final Redemption Amount for the Instruments: – Applicable Disruption Fall-backs).