Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 56

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 56
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 from paying dividends or making distributions on our capital stock or purchasing or redeeming 
 our capital stock.                                                                               |

Consolidation, Merger and Sale of Assets

The indenture provides that
we may consolidate with or merge with or into any other person, and may sell, transfer, or lease or convey all or substantially all of
our properties and assets to another person; provided, that the following conditions are satisfied:

| · | we                                                                                          
 are the continuing entity, or the successor corporation is organized and existing under the 
 laws of the United States of America, any state thereof or the District of Columbia and the 
 successor corporation (if not us) will expressly assume, by supplemental indenture, all of  
 our obligations under the debt securities and the indenture;                                |

| · | immediately                                                                                 
 after giving effect to such transaction, no default or event of default under the indenture 
 has occurred and is continuing; and                                                         |

| · | the                                                                                      
 trustee receives from us an officers’ certificate and an opinion of counsel that the     
 transaction and any such supplemental indenture comply with the applicable provisions of 
 the indenture.                                                                           |

If we consolidate or merge
with or into any other person or sell, transfer, lease or convey all or substantially all of our properties and assets in accordance
with the indenture, the successor corporation will be substituted for us in the indenture, with the same effect as if it had been an
original party to the indenture. As a result, the successor corporation may exercise our rights and powers under the indenture, and we
will be released from all our liabilities and obligations under the indenture and under the debt securities; provided, however, that
we will not be relieved from the obligation to pay the principal of, premium (if any) and interest on the debt securities except in the
case of a sale of all of our assets.

Any substitution of the
successor corporation for us might be deemed for U.S. federal income tax purposes to be an exchange of the debt securities for “new”
debt securities, resulting in recognition of gain or loss for such purposes and possibly certain other adverse tax consequences to beneficial
owners of the debt securities. Holders should consult their own tax advisors regarding the tax consequences of any such substitution.

As used in the indenture,
“person” means any individual, corporation, business trust, partnership, limited liability company, joint venture, association,
joint-stock company, trust, unincorporated organization or government or any agency