Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 58

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 58
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, or reorganization of us occurs and is continuing, the principal of and premium,
if any, and accrued and unpaid interest on the debt securities of such series will become and be immediately due and payable without
any declaration or other act on the part of the trustee or any holders.

The holders of not less
than a majority in aggregate principal amount of the outstanding debt securities of any series may rescind a declaration of acceleration
and its consequences, if we have deposited certain sums with the trustee and all events of default with respect to the debt securities
of such series, other than the non-payment of the principal or interest which have become due solely by such acceleration, have been
cured or waived, as provided in the indenture.

An event of default for
a particular series of debt securities does not necessarily constitute an event of default for any other series of debt securities issued
under the indenture.

As used in the indenture,
we are required to furnish the trustee annually within 120 days after the end of our fiscal year a statement regarding compliance with
the indenture.

No holder of any debt securities
of any series will have any right to institute any judicial or other proceeding with respect to the indenture, or for the appointment
of a receiver or trustee, or for any other remedy unless:

| · | an                                                                                          
 event of default has occurred and is continuing and such holder has given the trustee prior 
 written notice of such continuing event of default with respect to the debt securities of   
 such series;                                                                                |

| · | the                                                                                               
 holders of not less than 33% of the aggregate principal amount of the outstanding debt securities 
 of such series have requested the trustee to institute proceedings in respect of such event       
 of default;                                                                                       |

| · | such                                                                                         
 holders have offered the trustee indemnity or security reasonably satisfactory to it against 
 its costs, expenses and liabilities in complying with such request;                          |

| · | the                                                                                           
 trustee has failed to institute proceedings 60 days after the receipt of such notice, request 
 and offer of indemnity; and                                                                   |

| · | no                                                                                             
 direction inconsistent with such written request has been given for 60 days by the holders     
 of a majority in aggregate principal amount of the outstanding debt securities of such series. |

The holders of a majority
in aggregate principal amount of outstanding debt securities of a series will have the right, subject to certain limitations, to direct
the time, method and place of conducting any proceeding for any remedy available to the trustee with