Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 64

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 64
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 in a global security will not be entitled to receive certificated debt securities
and will not be considered the owners or holders of any debt securities represented by the global security. No beneficial owner of an
interest in a global security will be able to transfer such interest except in accordance with DTC’s applicable procedures, in
addition to those provided for under the indenture. Because DTC can only act on behalf of participants, who in turn act on behalf of
others, the ability of a person having a beneficial interest in a global security to pledge that interest to persons that do not participate
in the DTC system, or otherwise to take actions in respect of that interest, may be impaired by the lack of a physical certificate representing
that interest.

All payments on the debt
securities represented by a global security registered in the name of and held by DTC or its nominee will be made to DTC or its nominee,
as the case may be, as the registered owner and holder of the global security.

We expect that DTC or its
nominee, upon receipt of any payment of principal, premium, if any, or interest in respect of a global security, will credit participants’
accounts with payments in amounts proportionate to their respective beneficial interests in the principal amount of the global security
as shown on the records of DTC or its nominee. We also expect that payments by participants to owners of beneficial interests in the
global security held through such participants will be governed by standing instructions and customary practices as is now the case with
securities held for accounts for customers registered in the names of nominees for such customers. These payments, however, will be the
responsibility of such participants and indirect participants, and none of us, the trustee or any paying agent will have any responsibility
or liability for any aspect of the records relating to, or payments made on account of, beneficial ownership interests in any global
security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests or for any other aspect
of the relationship between DTC and its participants or the relationship between such participants and the owners of beneficial interests
in the global security.

Except as noted below, we
expect that DTC will take any action permitted to be taken by a holder of debt securities only at the direction of one or more participants
to whose account the DTC interests in a global security are credited and only in respect of such portion of the aggregate principal amount
of the debt securities as to which such participant or participants