SEC Filing Document

Company: Synergy CHC Corp.
Ticker: SNYR
CIK: 1562733
Filing Type: 8-K
Document Type: EX-10.1
Date Filed: 2025-06-04
Accession Number: 0001213900-25-050984
Exchange: Nasdaq
SIC Code: 2833
SIC Description: Medicinal Chemicals & Botanical Products
URL: https://www.sec.gov/Archives/edgar/data/1562733/000121390025050984/ea024464201ex10-1_synergy.htm

Chunk 15 of 63
Word Count: 1474
Character Count: 9552

Document Content:

statutes) as the same may, from time to time, be in effect in the Province of Ontario or a similar act or statute as in effect in such other jurisdiction in Canada for purposes of the provisions of this Agreement. “Pro Rata Share” means, with respect to: Initial Term Loan Lender’s obligation to make the Initial Term Loan and the right to receive payments of interest, fees, and principal with respect thereto, the percentage obtained by dividing (i) such Initial Term Loan Lender’s Initial Term Loan Commitment, by (ii) the Total Initial Term Loan Commitment, provided that if the Total Initial Term Loan Commitment has been reduced to zero, the numerator shall be the aggregate unpaid principal amount of such Lender’s portion of the Initial Term Loan and any Agent Advances and the denominator shall be the aggregate unpaid principal amount of the Initial Term Loan and any Agent Advances;

Delayed Draw Term Loan Lender’s obligation to make the Delayed Draw Term Loan and the right to receive payments of interest, fees,
and principal with respect thereto, the percentage obtained by dividing (i) such Delayed Draw Term Loan Lender’s Delayed Draw Term
Loan Commitment, by (ii) the Total Delayed Draw Term Loan Commitment, provided that if the Total Delayed Draw Term Loan Commitment has
been reduced to zero, the numerator shall be the aggregate unpaid principal amount of such Lender’s portion of the Delayed Draw
Term Loan and any Agent Advances and the denominator shall be the aggregate unpaid principal amount of the Delayed Draw Term Loan and
any Agent Advances;

Incremental Term Loan Lender’s obligation to make any Incremental Term Loan and the right to receive payments of interest, fees,
and principal with respect thereto, the percentage obtained by dividing (i) such Incremental Term Loan Lender’s Incremental Term
Loan Commitment, by (ii) the Total Incremental Term Loan Commitment, provided that if the Total Incremental Term Loan Commitment has been
reduced to zero, the numerator shall be the aggregate unpaid principal amount of such Lender’s portion of the Incremental Term Loan
and any Agent Advances and the denominator shall be the aggregate unpaid principal amount of the Incremental Term Loan and any Agent Advances;
and

(d) all
other matters (including, without limitation, the indemnification obligations arising under Section 9.5), the percentage obtained by dividing
(i) (i) such Lender’s portion of the unpaid principal amount of the Loans and the Agent Advances, by (ii) the aggregate unpaid principal
amount of the Loans and the Agent Advances held by all Lenders.

“Process Agent”
has the meaning specified therefor in Section 11.10(c).

“Projections”
means financial projections of the Borrower and its Subsidiaries delivered pursuant to Section 6.1(g)(ii), as updated from time to time
pursuant to Section 7.1(a)(vi).

“Qualified Equity Interests”
means, with respect to any Person, all Equity Interests of such Person that are not Disqualified Equity Interests.

“Qualified Jurisdictions”
means the United States and Canada, in each case, including any states, provinces or other similar local units therein.

“Real Property Deliverables”
means each of the following agreements, instruments and other documents in respect of each Facility, each in form and substance reasonably
satisfactory to the Collateral Agent:

Mortgage duly executed by the applicable Loan Party;

(b) evidence
of the recording of each Mortgage in such office or offices as may be necessary or, in the reasonable opinion of the Collateral Agent,
desirable to perfect the Lien purported to be created thereby or to otherwise protect the rights of the Collateral Agent and the Lenders
thereunder;

Title Insurance Policy with respect to each Mortgage;

current ALTA survey and a surveyor’s certificate, certified to the Collateral Agent and to the issuer of the Title Insurance Policy
with respect thereto by a professional surveyor licensed in the state in which such Facility is located and reasonably satisfactory to
the Collateral Agent;

a certificate of an Authorized Officer of the applicable Loan Party certifying as to a true, correct and complete list, as of the date
of such certificate, of all “Buildings” (as defined by the applicable Flood Insurance Laws) located on real property that
is subject to a Mortgage, (ii) a life of loan flood hazard determination with respect to all such Buildings, or such other evidence
reasonably satisfactory to the Collateral Agent that such Buildings are not then located in a flood hazard area, (iii) if such real
property is located in a special flood hazard area, evidence of flood insurance in such amounts as are acceptable to the Collateral Agent
and required under applicable Flood Insurance Laws, and (iv) such other certificates or notices reasonably required by the Collateral
Agent to facilitate compliance with any applicable Flood Insurance Laws;

opinion of counsel, satisfactory to the Collateral Agent, in the state where such Facility is located with respect to the enforceability
of the Mortgage to be recorded and such other matters as the Collateral Agent may reasonably request;

ASTM 1527-13 Phase I Environmental Site Assessment (“Phase I ESA”) (and if reasonably requested by the Collateral Agent
based upon the results of such Phase I ESA, a Phase II Environmental Site Assessment), by an independent firm reasonably satisfactory
to the Collateral Agent; and

(h) such
other agreements, instruments, appraisals and other documents (including guarantees and opinions of counsel) as the Collateral Agent may
reasonably require.

“Recipient”
means any Agent, any Lender, as applicable.

“Reference Rate”
means, for any period, the greatest of (a) 6.0% per annum, (b) the Federal Funds Rate plus 0.50% per annum, (c) Term SOFR (which rate
shall be calculated based upon an Interest Period of one month and shall be determined on a daily basis) plus 1.00% per annum, and (d)
the rate last quoted by The Wall Street Journal as the “Prime Rate” in the United States or, if The Wall Street
Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical
Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any
similar rate quoted therein (as determined by the Administrative Agent) or any similar release by the Federal Reserve Board (as determined
by the Administrative Agent). Each change in the Reference Rate shall be effective from and including the date such change is publicly
announced as being effective.

“Reference Rate Loan”
means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

“Reference Rate Term
SOFR Determination Day” has the meaning specified in the definition of “Term SOFR”.

“Register”
has the meaning specified therefor in Section 11.7(f).

“Registered Intellectual
Property” means Intellectual Property that is issued, registered, renewed or the subject of a pending application.

“Registered Loans”
has the meaning specified therefor in Section 11.7(f).

“Regulation T”,
“Regulation U” and “Regulation X” mean, respectively, Regulations T, U and X of the Board of Governors
or any successor, as the same may be amended or supplemented from time to time.

“Related Fund”
means, with respect to any Person, an Affiliate of such Person, or a fund or account managed by such Person or an Affiliate of such Person.

“Related Parties”
means, with respect to any Person, such Person’s Affiliates and the direct and indirect equityholders, partners, directors, officers,
employees, agents, consultants, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s
Affiliates.

“Release”
means any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, seeping, migrating, dumping
or disposing of any Hazardous Material (including the abandonment or discarding of barrels, containers and other closed receptacles containing
any Hazardous Material) into the indoor or outdoor environment, including, without limitation, the movement of Hazardous Materials through
or in the ambient air, soil, surface or ground water, or property.

“Relevant Governmental
Body” means the Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board or
the Federal Reserve Bank of New York, or any successor thereto.

“Remedial Action”
means any action (a) to correct or address any actual, alleged or threatened non-compliance with any Environmental Law or Environmental
Permit, or (b) to clean up, remove, remediate, contain, treat, monitor, assess, evaluate, investigate, prevent, minimize or in any other
way address any environmental condition or the presence, Release or threatened Release of any Hazardous Material (including the performance
of pre-remedial studies and investigations and post-remedial operation and maintenance activities).

“Replacement Lender”
has the meaning specified therefor in Section 11.2(c).

“Report”
has the meaning specified therefor in Section 9.13(a).

“Reportable Event”
means an event described in Section 4043 of ERISA (other than an event not subject to the provision for 30-day notice to the PBGC under
the regulations promulgated under such Section).

“Required Lenders”
means Lenders whose Pro Rata Shares (calculated in accordance with clause (b) of the definition thereof) aggregate at least 50.1%.