Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 51

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 51
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 book-entry
form only. We may issue the debt securities issued under the indenture as “discount securities,” which means they may be
sold at a discount below their stated principal amount. These debt securities, as well as other debt securities that are not issued at
a discount, may, for U.S. federal income tax purposes, be treated as if they were issued with “original issue discount,”
because of interest payment and other characteristics. Special U.S. federal income tax considerations applicable to debt securities issued
with original issue discount will be described in more detail in any applicable prospectus supplement or free writing prospectus.

Unless otherwise specified
in the applicable prospectus supplement or free writing prospectus, the debt securities of each series will not be listed on any securities
exchange.

Provisions of the Indenture

The indenture provides that
debt securities may be issued from time to time in one or more series. For each series of debt securities, the applicable prospectus
supplement or free writing prospectus will describe the following terms and conditions of that series of debt securities:

| · | the                                     
 title of the series of debt securities; |

| · | any                                                                                      
 limit upon the aggregate principal amount of the series of debt securities or the series 
 of which they are a part;                                                                |

| · | the                                                                                    
 date(s) on which the principal of the series of debt securities will be payable or the 
 method of determination thereof;                                                       |

| · | the                                                                                         
 rate(s) at which the series of debt securities will bear interest, if any, the date(s) from 
 which that interest will accrue, the date(s) on which that interest will be payable         
 and the terms and conditions of any deferral of interest, additional interest, if any, on   
 the series of debt securities, the right, if any, to extend the interest payment periods    
 and the duration of the extensions, and the record date(s) to determine to which holders    
 interest is payable and/or the method by which such rate or rates or date or dates shall    
 be determined;                                                                              |

| 15 |

| · | the                                                                                          
 offices or agencies where the principal of and any interest on the series of debt securities 
 will be payable;                                                                             |

| · | the                                                                                        
 right, if any, to redeem the series of debt securities, in whole or in part, at our option 
 and the period(s) within which, or the date(s) on which, the price(s) at