Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 63

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 63
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of DTC until maturity or until we issue the debt securities in certificated form. DTC will therefore require secondary market trading
activity in the debt securities to settle in immediately available funds. We can give no assurance as to the effect, if any, of settlement
in immediately available funds on trading activity in the debt securities.

Book-Entry; Delivery and Form; Global Securities

Unless otherwise specified
in the applicable prospectus supplement or free writing prospectus, the debt securities of each series will be issued in the form of
one or more global debt securities, in definitive, fully registered form without interest coupons, each of which we refer to as a “global
security.” Each such global security will be deposited with the trustee as custodian for DTC and registered in the name of a nominee
of DTC in New York, New York for the accounts of participants in DTC.

Investors may hold their
interests in a global security directly through DTC if they are DTC participants, or indirectly through organizations that are DTC participants.
Except in the limited circumstances described below, holders of debt securities represented by interests in a global security will not
be entitled to receive their debt securities in fully registered certificated form.

The rules that apply
to DTC and its participants are on file with the SEC. DTC is a wholly-owned subsidiary of The Depository Trust and Clearing Corporation,
which is owned by the users of its regulated subsidiaries.

Ownership of Beneficial Interests

Upon the issuance of each
global security, DTC will credit, on its book-entry registration and transfer system, the respective principal amount of the individual
beneficial interests represented by the global security to the accounts of participants. Ownership of beneficial interests in each global
security will be limited to participants or persons that may hold interests through participants. Ownership of beneficial interests in
each global security will be shown on, and the transfer of those ownership interests will be effected only through, records maintained
by DTC (with respect to participants’ interests) and such participants (with respect to the owners of beneficial interests in the
global security other than participants).

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So long as DTC or its nominee
is the registered holder and owner of a global security, DTC or such nominee, as the case may be, will be considered the sole legal owner
of the debt security represented by the global security for all purposes under the indenture, the debt securities and applicable law.
Except as set forth below, owners of beneficial interests