Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 59

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 59
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 respect to the debt securities of
that series or exercising any trust or power conferred to the trustee, and to waive certain defaults. The indenture provides that if
an event of default occurs and is continuing, the trustee will exercise such of its rights and powers under the indenture, and use the
same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of
such person’s own affairs. Subject to such provisions, the trustee will be under no obligation to exercise any of its rights or
powers under the indenture at the request of any of the holders of the debt securities of a series unless they will have offered to the
trustee security or indemnity satisfactory to the trustee against the costs, expenses and liabilities which might be incurred by it in
compliance with such request.

Notwithstanding the foregoing,
the holder of any debt security will have an absolute and unconditional right to receive payment of the principal of and premium, if
any, and interest on that debt security on or after the due dates expressed in that debt security and to institute suit for the enforcement
of payment.

Modification and Waivers

Modification and amendments
of the indenture and the debt securities of any series may be made by us and the trustee with the consent of the holders of not less
than a majority in aggregate principal amount of the outstanding debt securities of that series affected thereby; provided, however,
that no such modification or amendment may, without the consent of the holder of each outstanding debt security of that series affected
thereby:

| · | extend                                   
 the final maturity of any debt security; |

| · | reduce                                                             
 the principal amount of, or premium, if any, on any debt security; |

| · | reduce                                                                   
 the rate or extend the time of payment of interest on any debt security; |

| · | reduce                                                 
 any amount payable on redemption of any debt security; |

| 19 |

| · | change                                                                                      
 the coin or currency in which the principal, premium, if any, or interest is payable on any 
 debt security (other than as may be provided otherwise with respect to a series);           |

| · | reduce                                                                                       
 the amount of the principal of any debt security issued with an original issue discount that 
 is payable upon acceleration or provable in bankruptcy;                                      |

| · | impair                                                                                        
 or affect the right to institute suit for the enforcement of any payment on any debt security 
 when due; or                                                                                  |

| ·