Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 55

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 55
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 sufficient to cover
any transfer tax or other similar governmental charge payable in connection therewith.

We are not required to exchange
or register a transfer of any debt security selected for redemption for a period of 15 days before mailing a notice of redemption of
the debt security to be redeemed.

The registered holder of
a debt security will be treated as the owner for all purposes.

All amounts of principal
of and premium, if any, or interest on the debt securities paid by us that remain unclaimed two years after such payment was due and
payable will be repaid to us, and the holders of such debt securities will thereafter look solely to us for payment.

Ranking

We
expect that our debt securities will be effectively subordinated to all secured indebtedness that we have outstanding from time to time
to the extent of the value of the collateral securing such secured indebtedness. We may issue one or more series of subordinated debt
securities that may be subordinate to all outstanding secured indebtedness as well as debt securities that are not designated subordinated
debt securities. The indenture does not limit the amount of secured indebtedness that we may issue or incur.

We
conduct substantially all of our operations, and make substantially all of our investments, through WUP Holdings, our operating
partnership, and its subsidiaries. Our ability to meet our financial obligations with respect to any future outstanding debt securities,
and cash needs generally, is dependent on our operating cash flow, our ability to access various sources of short- and long-term liquidity,
including our credit facilities, the capital markets and distributions from our subsidiaries. Holders of our debt securities will effectively
have a junior position to claims of creditors of our subsidiaries, including certain trade creditors, debt holders, secured creditors,
taxing authorities and guarantee holders, if any.

| 17 |

Covenants

The indenture sets forth
limited covenants that will apply to each series of debt securities issued under the indenture, unless otherwise specified in the applicable
prospectus supplement or free writing prospectus. However, unless otherwise specified in the applicable prospectus supplement or free
writing prospectus, these covenants are not expected to, among other things:

| · | limit                                                                                            
 the amount of indebtedness or lease obligations that may be incurred by us and our subsidiaries; |

| · | limit                                                                                        
 our ability or that of our subsidiaries to issue, assume or guarantee debt secured by liens; 
 or                                                                                           |

| · | restrict                                                                                         
 us