Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 67

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 67
---
 indenture contains certain
limitations on the right of the trustee, should it become a creditor of ours, to obtain payment of claims in certain cases, or to realize
for its own account on certain property received in respect of any such claim as security or otherwise. The trustee will be permitted
to engage in certain other transactions; however, if after an event of default has occurred and is continuing, the trustee acquires any
conflicting interest it must eliminate such interest or resign.

No Individual Liability of Incorporators, Stockholders, Officers or Directors

The indenture provides that
no past, present or future incorporator, stockholder, officer or director of us or any successor corporation in their capacity as such
shall have any individual liability for any obligation, covenant or agreement under the indenture or any debt security for a claim based
thereon or otherwise in respect thereof.

Governing Law

The indenture and the debt
securities will be governed by and construed in accordance with the laws of the State of New York.

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<div align='center'>DESCRIPTION OF OUR WARRANTS</div>

The following summary of the material terms of our securities is not intended to be a complete summary of the rights and preferences of such securities, and is qualified by reference to our Organizational Documents, the 2021 Registration Rights Agreement, Warrant Agreement and the warrant-related documents described herein. Securityholders are urged to read the Organizational Documents, 2021 Registration Rights Agreement and Warrant Agreement in their entirety for a complete description of the rights and preferences of our securities, including our outstanding Warrants.

New Equity Warrants

We
may issue warrants for the purchase of Common Stock or preferred stock and we may issue warrants independently or together with Common
Stock or preferred stock or attached to or separate from such securities. We will issue each series of warrants under a separate warrant
agreement between us and a bank or trust company as warrant agent, as specified in the applicable prospectus supplement. The following
description of the terms of the warrants is only a summary. This description is subject to, and qualified in its entirety by reference
to, the provisions of the applicable warrant agreement.

The
warrant agent will act solely as our agent in connection with the warrants and will not act for or on behalf of warrant holders. The
following sets forth certain general terms and provisions of the warrants that may be offered under this registration statement. Further
terms of the warrants and the applicable warrant agreement will be set forth in the applicable prospect