EXHIBIT 1.1
ADVISOR'S DISCIPLINED TRUST 192
TRUST AGREEMENT
Dated: October 12, 2007
This Trust Agreement among Fixed Income Securities, L.P., as Depositor,
Evaluator and Supervisor, and The Bank of New York, as Trustee, sets forth
certain provisions in full and incorporates other provisions by reference to the
document entitled "Standard Terms and Conditions of Trust For Advisor's
Disciplined Trust, Effective for Unit Investment Trusts Investing in Equity
Securities Established On and After August 5, 2004 (Including Advisor's
Disciplined Trust, Series 13 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, Evaluator 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 the Trust
represented by each Unit thereof is a fractional amount, the numerator of which
is one and the denominator of which is the amount set forth under "Understanding
Your Investment--Statement of Financial Condition--Number of Units" in the
Prospectus for the Trust.
3. The aggregate number of Units described in Section 2.03(a) for the Trust
is that number of Units set forth under "Understanding Your Investment--
Statement of Financial Condition--Number of Units" in the Prospectus for the
Trust.
4. The term "Deferred Sales Charge Payment Dates" shall mean the dates
specified for deferred sales fee installments under "Investment Summary--Fees
and Expenses" in the Prospectus for the Trust.
5. The term "Distribution Date" shall mean the "Distribution Dates" set
forth under "Investment Summary--Essential Information" in the Prospectus for
the Trust.
6. The term "Mandatory Termination Date" shall mean the "Termination Date"
set forth under "Investment Summary--Essential Information" in the Prospectus
for the Trust.
7. The term "Record Date" shall mean the "Record Dates" set forth under
"Investment Summary--Essential Information" in the Prospectus for the Trust.
8. The first paragraph of Section 3.05(b)(i) is replaced in its entirety
with the following:
"(i) On each Distribution Date, the Trustee shall distribute to each
Unitholder of record at the close of business on the preceding Record Date an
amount per Unit equal to such Unitholder's Income Distribution (as defined
below) plus such Unitholder's pro rata share of the balance of the Capital
Account (except for monies on deposit therein required to purchase Contract
Securities or to purchase Securities contracted for pursuant to the Depositor's
purchase instructions) computed as of the close of business on the Record Date
immediately preceding such Distribution Date."
9. Section 3.05(b)(ii) is replaced in its entirety with the following:
"(ii) For the purpose of this Section 3.05, the Unitholder's "Income
Distribution" shall be equal to such Unitholder's pro rata share of the cash
balance in the Income Account computed as of the business on the Record Date
immediately preceding such 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
the Indenture which have accrued, as of such Record Date or are otherwise
properly attributable to the period to which such Income Distribution relates."
10. Section 3.05 is hereby amended by adding the following immediately after
Section 3.05(b)(v):
"(vi) Notwithstanding the foregoing, The Trustee shall not be required to
make a distribution from the Income Account or the Capital Account unless the
aggregate cash held for distribution within the meaning of Treas. Reg 1.671-
5(b)(5) from the Income Account and the Capital Account is equal to or greater
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than .1% of the net asset value of the Trust on the related Record Date. This
provision is intended to comply with Treas. Reg. 1.671-5(c)(2)(v)(C), and shall
interpreted consistent therewith and with any successor regulation."
11. The Depositor's annual compensation as set forth under Section 3.13
shall be that dollar amount per 100 Units set forth under "Investment Summary--
Fees and Expenses--Annual operating expenses--Supervisory, evaluation and
administration fees" in the Prospectus for the Trust.
12. Notwithstanding anything to the contrary in the Standard Terms and
conditions of Trust, no Unitholder may request a distribution of Securities in-
kind pursuant to Sections 6.02, 6.05 or 9.02 during the 30 days prior to and
including the Mandatory Termination Date of a Trust.
13. Notwithstanding anything to the contrary in the Standard Terms and
Conditions of Trust, if the Trustee sells, redeems or otherwise liquidates
Securities pursuant to Section 6.02 to satisfy Unit redemptions, the Trustee
shall do so, as nearly as practicable, on a pro rata basis among all Securities
held by the Trust.
14. The first sentence of Section 7.04 is replaced in its entirety by the
following:
"For services performed under this Indenture the Trustee shall be
paid an annual fee in the amount per Unit set forth in the Trust
Agreement, which fee shall accrue daily and be computed based on the
number of Units outstanding as of January 1 of such year except for a
Trust during the year or years in which an initial offering period as
determined in Section 5.01 of this Indenture occurs, in which case the
fee for a month is based on the number of Units outstanding at the end
of such month (such annual fee to be pro rated for any calendar year
in which the Trustee provides services during less than the whole of
such year)."
15. The Trustee's annual compensation as set forth under Section 7.04, shall
be $0.0105 per Unit.
16. Section 9.01 of the Standard Terms and Conditions of Trust shall be
replaced in its entirety with the following:
"Section 9.01. Amendments. (a) This Indenture may be amended from time to time
by the Depositor and Trustee or their respective successors, without the consent
of any of the Unitholders, (i) to cure any ambiguity or to correct or supplement
any provision contained herein which may be defective or inconsistent with any
other provision contained herein, (ii) to make such other provision in regard to
matters or questions arising hereunder as shall not materially adversely affect
the interests of the Unitholders or (iii) to make such amendments as may be
necessary (a) for the Trust to continue to qualify as a regulated investment
company for federal income tax purposes if the Trust has elected to be taxed as
such under the United States Internal Revenue Code of 1986, as amended, or (b)
to prevent the Trust from being deemed an association taxable as a corporation
for federal income tax purposes if the Trust has not elected to be taxed as a
regulated investment company under the United States Internal Revenue Code of
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1986, as amended. This Indenture may not be amended, however, without the
consent of all Unitholders then outstanding, so as (1) to permit, except in
accordance with the terms and conditions hereof, the acquisition hereunder of
any Securities other than those specified in the Schedules to the Trust
Agreement or (2) to reduce the aforesaid percentage of Units the holders of
which are required to consent to certain of such amendments. This Indenture may
not be amended so as to reduce the interest in a Trust represented by Units
(whether evidenced by Certificates or held in uncertificated form) without the
consent of all affected Unitholders.
(b) Except for the amendments, changes or modifications as provided in
Section 9.01(a) hereof, neither the parties hereto nor their respective
successors shall consent to any other amendment, change or modification of this
Indenture without the giving of notice and the obtaining of the approval or
consent of Unitholders representing at least 66 2/3% of the Units then
outstanding of the affected Trust. Nothing contained in this Section 9.01(b)
shall permit, or be construed as permitting, a reduction of the aggregate
percentage of Units the holders of which are required to consent to any
amendment, change or modification of this Indenture without the consent of the
Unitholders of all of the Units then outstanding of the affected Trust and in no
event may any amendment be made which would (1) alter the rights to the
Unitholders as against each other, (2) provide the Trustee with the power to
engage in business or investment activities other than as specifically provided
in this Indenture, (3) adversely affect the tax status of the Trust for federal
income tax purposes or result in the Units being deemed to be sold or exchanged
for federal income tax purposes or (4) unless the Trust has elected to be taxed
as a regulated investment company for federal income tax purposes, result in a
variation of the investment of Unitholders in the Trust.
(c) Unless the Depositor directs that other notice shall be provided, the
Trustee shall include in the annual report provided pursuant to Section 3.06
notification of the substance of such amendment."
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IN WITNESS WHEREOF, the undersigned have caused this Trust Agreement to be
executed; all as of the day, month and year first above written.
FIXED INCOME SECURITIES, L.P.
By /s/ XXXX X. XXXXXXXX
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Senior Vice President
CORPORATE ACKNOWLEDGMENT
STATE OF KANSAS }
}ss.
COUNTY OF SEDGWICK }
On the 12th day of October in the year 2007, before me personally came Xxxx
X. Xxxxxxxx, to me known, who, being by me duly sworn, did depose and say that
he resides in Wichita, Kansas; that he is Senior Vice President of Fixed Income
Securities, L.P., the company described in and which executed the above
instrument; and that he signed his name thereto by authority of the general
partner of said company.
/s/ XXXXXXX X. XXXXX
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Notary Public
(Notarial Seal)
RPL Section 309 - Corporate-no seal
THE BANK OF NEW YORK
By /s/ XXXXX XXXXXXXXX
-----------------------------
Vice President
CORPORATE ACKNOWLEDGMENT
STATE OF NEW YORK }
}ss.
COUNTY OF KINGS }
On the 12th day of October in the year 2007, before me personally came
Xxxxx Xxxxxxxxx to me known, who, being by me duly sworn, did depose and say
that she resides in Brooklyn, New York; that she is a Vice President of The Bank
of New York, the company described in and which executed the above instrument;
and that she signed her name thereto by authority of the board of directors of
said company.
/s/ XXXXXXX X. XXXXX, XX.
--------------------------------
Notary Public
(Notarial Seal)
RPL Section 309 - Corporate-no seal
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SCHEDULE A TO TRUST AGREEMENT
SECURITIES INITIALLY DEPOSITED
IN
ADVISOR'S DISCIPLINED TRUST 192
Incorporated herein by this reference and made a part hereof
is the schedule set forth under "Portfolio" in the Prospectus for the Trust.
