EXHIBIT 1.1
INVESCO UNIT TRUSTS, SERIES 1600
TRUST AGREEMENT
Dated: November 5, 2015
This Trust Agreement among Invesco Capital Markets, Inc., as Depositor, The
Bank of New York Mellon, as Trustee, and Xxxxx & Steers Capital Management, Inc.
and Invesco Investment Advisers LLC each, as a Supervisor, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Standard Terms and Conditions of Trust For Invesco Unit
Trusts, Effective for Unit Investment Trusts Established On and After December
6, 2012 (Including Invesco Unit Trusts, Series 1281 and Subsequent Series)" (the
"Standard Terms and Conditions of Trust") and such provisions as are set forth
in full and such provisions as are incorporated by reference constitute a single
instrument. All references herein to Articles and Sections are to Articles and
Sections of the Standard Terms and Conditions of Trust.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements herein
contained, the Depositor, Trustee and Supervisor agree as follows:
PART I
STANDARD TERMS AND CONDITIONS OF TRUST
Subject to the provisions of Part II hereof, all the provisions contained in
the Standard Terms and Conditions of Trust are herein incorporated by reference
in their entirety and shall be deemed to be a part of this instrument as fully
and to the same extent as though said provisions had been set forth in full in
this instrument.
PART II
SPECIAL TERMS AND CONDITIONS OF TRUST
The following special terms and conditions are hereby agreed to:
1. The Securities listed in the Schedules hereto have been deposited in trust
under this Trust Agreement.
2. The fractional undivided interest in and ownership of each Trust
represented by each Unit thereof referred to in Section 1.01(51) is initially an
amount the numerator of which is one and the denominator of which is the amount
set forth under "Units outstanding" for the Trusts in the "Statements of
Condition" in the Prospectus.
3. The terms "Capital Account Distribution Date" and "Income Account
Distribution Date" shall mean the "Distribution Dates" set forth in the
"Essential Information" in the Prospectus.
4. The terms "Capital Account Record Date" and "Income Account Record Date"
shall mean the "Record Dates" set forth in the "Essential Information" in the
Prospectus.
5. The term "Deferred Sales Charge Payment Date" shall mean April 10, 2016
and the tenth day of each month thereafter through August 10, 2016.
6. With respect to Financial Institutions Portfolio 2015-4 only, the term
"Percentage Ratio" shall mean (a) for the first ninety (90) days of such Trust's
term, the percentage relationship among the Equity Securities based on the
dollar value of each Equity Security per Unit existing immediately prior to an
additional deposit of Securities and (b) for the remaining term of such Trust,
the percentage relationship among each Equity Security based on the number of
shares of each Equity Security per Unit existing immediately prior to an
additional deposit of Securities. The Percentage Ratio shall be adjusted to the
extent necessary, and may be rounded, to reflect the occurrence of a stock
dividend, a stock split or a similar event which affects the capital structure
of the issuer of an Equity Security.
7. With respect to REIT Income Portfolio 2015-4 only, the term "Supervisor"
shall mean Xxxxx & Steers Capital Management, Inc. and its successors in
interest, or any successor portfolio supervisor appointed as provided in the
Standard Terms and Conditions of Trust. With respect to all other Trusts, the
term "Supervisor" shall mean Invesco Investment Advisers LLC and its successors
in interest, or any successor portfolio supervisor as provided in the Standard
Terms and Conditions of Trust.
8. With respect to REIT Income Portfolio 2015-4 only, the Depositor's annual
compensation rate described in Section 3.13 shall be that amount set forth under
"Bookkeeping and administrative fees" in the "Fee Table" in the Prospectus. With
respect to all other Trusts, the Depositor's annual compensation rate described
in Section 3.13 and the Supervisor's annual compensation rate described in
Section 4.01 collectively shall be that amount set forth under "Supervisory,
bookkeeping and administrative fees" in the "Fee Table" in the Prospectus.
9. With respect to REIT Income Portfolio 2015-4 and Utility Income Portfolio
2015-4 only, Section 3.05(b)(ii) shall be replaced in its entirety by the
following:
"(ii) For purposes of this Section 3.05, the Unitholder's "Income
Distribution" shall be equal to such Unitholders pro rata share of the balance
in the Income Account calculated on the basis of one-twelfth of the estimated
annual income to the Trust for the ensuing twelve months computed as of the
close of business on the Income Account Record Date immediately preceding such
Income Distribution (or portion or multiple thereof for the first Income
Distribution), after deduction of
(1) the fees and expenses then deductible pursuant to Section 3.05(a) and (2)
the Trustee's estimate of other expenses properly chargeable to the Income
Account pursuant to this Indenture which have accrued, as of such Income Account
Record Date or are otherwise properly attributable to the period to which such
Income Distribution relates.
In the event that the amount on deposit in the Income Account is not
sufficient for the payment of the amount intended to be distributed to
Unitholders on the basis of the aforesaid computation, the Trustee is authorized
to advance its own funds and cause to be deposited in and credited to the Income
Account such amounts as may be required to permit payment of the related
distribution to be made as aforesaid and shall be entitled to be reimbursed,
without interest, out of income payments received by the Trust subsequent to the
date of such advance. Any such advance shall be reflected in the Income Account
until repaid."
10. With respect to REIT Income Portfolio 2015-4 only, the first paragraph of
Section 4.01 is hereby replaced by the following:
"Section 4.01. Compensation. As compensation for providing supervisory
portfolio services under this Indenture, the Trust will accrue daily and pay to
the Supervisor at the end of each calendar quarter an aggregate annual fee in an
amount equal to 0.05% of the average daily Trust Evaluation (described in
Section 6.01) for REIT Income Portfolio 2015-4."
11. The Trustee's annual compensation rate described in Section 7.04 shall be
that amount set forth under "Trustee's fee and operating expenses" in the "Fee
Table" in the Prospectus.
IN WITNESS WHEREOF, the undersigned have caused this Trust Agreement to be
executed; all as of the day, month and year first above written.
INVESCO CAPITAL MARKETS, INC.
By: /s/ XXXX X. XXXXXXX
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Vice President
INVESCO INVESTMENT ADVISERS LLC
By: /s/ XXXX X. XXXXXXX
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Vice President and Executive Director
XXXXX & STEERS CAPITAL MANAGEMENT, INC.
By: /s/ XXXXX XXXX
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Executive Vice President
THE BANK OF NEW YORK MELLON
By: /s/ XXXXXX YEDREYESKI
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Vice President
SCHEDULE A TO TRUST AGREEMENT
SECURITIES INITIALLY DEPOSITED
IN
INVESCO UNIT TRUSTS, SERIES 1600
[Incorporated herein by this reference and made a part hereof is each
"Portfolio" schedule as set forth in the applicable Prospectus.]
