SEC Filing Document

Company: Synergy CHC Corp.
Ticker: SNYR
CIK: 1562733
Filing Type: 8-K
Document Type: EX-10.1
Date Filed: 2026-03-25
Accession Number: 0001213900-26-034072
Exchange: Nasdaq
SIC Code: 2833
SIC Description: Medicinal Chemicals & Botanical Products
URL: https://www.sec.gov/Archives/edgar/data/1562733/000121390026034072/ea028322301ex10-1.htm

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satisfaction of the following conditions: of the date of any such principal payment and immediately after giving effect thereto, no Default or Event of Default has occurred and is continuing; (b) Liquidity (prior to and after giving effect to such payment) shall not be less than $4,000,000; (c) the Fixed Charge Coverage Ratio of the Borrower and its Subsidiaries for the period of 12 fiscal months of the Borrower and its Subsidiaries most recently ended prior to such payment (and, for the avoidance of doubt, without giving effect to such payment for purposes of determining Consolidated Net Interest Expense), shall be not less than 1.20 to 1.00; (d) the Consolidated Senior Net Leverage Ratio of the Borrower and its Subsidiaries as of the end of such fiscal quarter of the Borrower ending on or most recently preceding the date of such payment or prepayment was less than 2.75 to 1.00;

(e) such
payment or prepayment is made using only Net Cash Proceeds of an Equity Issuance which are not required to be applied as a mandatory
prepayment pursuant to Section 2.5(c)(v) in an amount not to exceed fifty percent (50%) of such Net Cash Proceeds; and

(f) the
Borrower shall have made principal reduction payments with respect to
the Obligations from and after the Second Amendment Effective Date in an aggregate amount not
less than $700,000; and

the Administrative Agent shall have received a certificate of an Authorized Officer of the Borrower certifying as to compliance with
the preceding clauses and demonstrating (in reasonable detail) the calculation required thereby.

“Sanders
Subordination Agreements” means, collectively, the Subordination Agreements, dated as of the date hereof, between ACP, on the
one hand, and each counterparty to a Sanders Note, on the other hand.

“SEC”
means the Securities and Exchange Commission or any other similar or successor agency of the Federal government administering the Securities
Act.

“Second
Amendment” means Second Amendment to Term Loan Credit Agreement, dated as of March 24, 2026, among the Loan Parties, the Lenders
and the Agents.

“Second
Amendment Effective Date” shall have the meaning specified therefor in Section 3 of the Second Amendment.

“Second
Amendment PIK Fee” has the meaning specified therefor in the Fee Letter.

“Secured
Party” means any Agent, and any Lender.

“Securities
Act” means the Securities Act of 1933, as amended, or any similar federal statute, and the rules and regulations of the SEC
thereunder, all as the same shall be in effect from time to time.

“Securitization”
has the meaning specified therefor in Section 11.7(l).

“Security
Agreement” means the Pledge and Security Agreement, substantially in the form of Exhibit B, made by the Loan Parties
in favor of the Collateral Agent for the benefit of the Secured Parties securing the Obligations, or the equivalent form governed by
the laws of such other jurisdiction.

“SOFR”
means a rate equal to the secured overnight financing rate as administered by the SOFR Administrator.

“SOFR
Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing
rate).

“Solvent”
means, with respect to any Person on a particular date, that on such date (a) the fair value of the property of such Person is not less
than the total amount of the liabilities of such Person, (b) the present fair salable value of the assets of such Person is not less
than the amount that will be required to pay the probable liability of such Person on its existing debts as they become absolute and
matured, (c) such Person is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and other
commitments as they mature in the normal course of business, (d) such Person does not intend to, and does not believe that it will, incur
debts or liabilities beyond such Person’s ability to pay as such debts and liabilities mature, and (e) such Person is not engaged
in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute
unreasonably small capital.

“Standard
& Poor’s” means Standard & Poor’s Ratings Services, a division of The McGraw Hill Companies, Inc. and any
successor thereto.

“Stated
Term Loan Maturity Date” means May 30, 2029.

“Subordinated
Indebtedness” means Indebtedness of any Loan Party the terms of which (including, without limitation, payment terms, interest
rates, maturity dates, covenants, remedies, defaults and other material terms) are reasonably satisfactory to the Collateral Agent and
which Indebtedness, among other things, has been expressly subordinated in right of payment to all Indebtedness of such Loan Party under
the Loan Documents (a) pursuant to a Subordination Agreement or (b) otherwise on terms and conditions satisfactory to the Collateral
Agent.

“Subordination
Agreement” shall mean a subordination agreement, in form and substance reasonably acceptable to the Collateral Agent, entered
into by any Person from time to time in favor of the Collateral Agent in connection with any Indebtedness, pursuant to which, among other
things, the Indebtedness owing from any Loan Party and/or the Liens securing such Indebtedness granted by any Loan Party to such Person
are subordinated in right of payment and/or priority to the Obligations and the Liens created under the Loan Documents, as such agreement
may be amended, restated, supplemented or otherwise modified form time to time in accordance with its terms. For the avoidance of doubt,
the Sanders Subordination Agreement and the Intercompany Subordination Agreement are all also included in the term “Subordination
Agreement.”

“Subsidiary”
means, with respect to any Person at any date, any corporation, limited or general partnership, limited liability company, trust, estate,
association, joint venture or other business entity (a) the accounts of which would be consolidated with those of such Person in such
Person’s consolidated financial statements if such financial statements were prepared in accordance with GAAP or (b) of which more
than 50% of (i) the outstanding Equity Interests having (in the absence of contingencies) ordinary voting power to elect a majority of
the Board of Directors of such Person, (ii) in the case of a partnership or limited liability company, the interest in the capital or
profits of such partnership or limited liability company, or (iii) in the case of a trust, estate, association, joint venture or other
entity, the beneficial interest in such trust, estate, association or other entity business is, at the time of determination, owned or
controlled directly or indirectly through one or more intermediaries, by such Person. References to a Subsidiary shall mean a Subsidiary
of the Borrower unless the context expressly provides otherwise.

“Swap
Obligation” means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or transaction
that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act.

“Taxes”
means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees
or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

“Termination
Date” means the first date on which all of the Obligations are paid in full in cash and all of the Commitments of the Lenders
are terminated.

“Term
Loan” means, collectively, the Initial Term Loans, the Delayed Draw Term Loans and any Incremental Term Loans (including,
without limitation, the Second Amendment
PIK Fee added to the principal amount of the Term Loan pursuant to the Fee Letter).

“Term
Loan Commitment” means, collectively, the Initial Term Loan Commitment, the Delayed Draw Term Loan Commitment and any Incremental
Term Loan Commitment.

“Term
Loan Lender” means a Lender with (a) a Term Loan Commitment or a Term Loan or (b) an Incremental Term Loan Commitment or an
Incremental Term Loan.

“Term
Loan Maturity Date” means the earlier of (a) the Stated Term Loan Maturity Date, and (b) the date on which the Term Loan (including
any Incremental Term Loan) shall become due and payable in accordance with the terms of this Agreement.

“Term
SOFR” means: