Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 109

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 109
---
 “De-SPAC Registration Rights Agreement”), pursuant to which we agreed to register for resale, pursuant to Rule 415 under the Securities Act, certain shares of Common Stock and other equity securities of Wheels Up that are held by the parties thereto from time to time, subject to the restrictions on transfer therein. The De-SPAC Registration Rights Agreement amended and restated the registration rights agreement that was entered into by Aspirational, the Sponsor and the other parties thereto in connection with Aspirational’ s initial public offering. The De-SPAC Registration Rights Agreement will terminate on the earlier of (i) the tenth anniversary of the date of the Registration Rights Agreement or (ii) with respect to any party thereto (other than Wheels Up), on the date that such party no longer holds any Registrable Securities (as defined therein). Seventh Amended and Restated Limited Liability Company Agreement Concurrently with the completion of the Business Combination, WUP entered into the Seventh Amended and Restated Limited Liability Company Agreement of WUP (as amended from time to time, the “A&R LLCA”). We refer to the unitholders of WUP after the Business Combination as the “unitholders.” The unitholders initially included Wheels Up, Wheels Up Blocker Sub LLC (“Wheels Up Blocker Sub”), Wheels Up MIP LLC (“MIP LLC”), a single-purpose entity formed for the purpose of administering and effectuating the WUP Management Incentive Plan (as defined herein), and Wheels Up MIP RI LLC (“MIP RI LLC”), another single-purpose entity formed for the purpose of administering and effectuating the WUP Management Incentive Plan (as defined herein). WUP is managed by Wheels Up, as its managing member, which has full and complete charge of all business and affairs of WUP. As managing member, Wheels Up may appoint officers of WUP. Discussion of certain rights and obligations under the A&R LLCA are included below, because certain directors and executive officers of the Company that served during 2024 hold Wheels Up PI Units and/or Wheels Up EO Units (as each term is defined below). Units. Under the A&R LLCA, the outstanding equity interests of WUP consist of (i) a single class of common units (the “Surviving Entity Common Units”), (ii) a single class of PI Units (the “Wheels Up PI Units”), which are subdivided into separate series designations which correspond to the respective series designations of WUP profits interests that were issued