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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a Process Agent has been properly appointed by each Canadian Guarantor in accordance with Section (xxv) copies of the Consulting Services Agreement and the Material Contracts as in effect on the Effective Date, certified as true and correct copies thereof by an Authorized Officer of the Borrower, together with a certificate of an Authorized Officer of the Borrower stating that such agreements remain in full force and effect and that none of the Loan Parties have breached or defaulted in any of their obligations under the Material Contracts; and (xxvi) such other agreements, instruments, approvals, opinions and other documents, each satisfactory to the Agents in form and substance, as any Agent may reasonably request. (e) Material Adverse Effect. The Agents shall have determined, in their reasonable judgment, that no event or development shall have occurred since December 31, 2024 which could reasonably be expected to have a Material Adverse Effect.

(f) Payment
of Effective Date Payoff Debt; Discharge of Liens. The Agents shall have received in connection with the payment of the Effective
Date Payoff Debt (i) payoff letters duly executed by the appropriate lender(s) thereunder, at least three (3) Business Day prior (or
such shorter period as agreed to by the Agents in their sole discretion) to the proposed funding date of the Loans, and in form and substance
acceptable the Agents, providing, among other things, (A) the payoff amount for payment in full of the Effective Date Payoff Debt and
any related per diem, (B) that upon receipt by such lender(s) of such payment in full the automatic termination, release and discharge
of all (1) Liens and other security interests with respect to the Effective Date Payoff Debt, and (2) all security, guaranty and other
loan documents thereto, and (C) authorizing filing (1) UCC-3 termination statements for all UCC-1 financing statements, (2) PPSA discharges
for all PPSA financing statements and (3) CIPO discharges for all CIPO registrations, in each case filed in respect of the Effective
Date Payoff Debt and covering any portion of the Collateral and any termination of security interests in Intellectual Property for each
assignment for security recorded by such lenders at the United States Patent and Trademark Office or the United States Copyright Office
and covering any Intellectual Property of the Loan Parties and (ii) concurrently, or substantially concurrently, with the funding of
the initial Loans on the Effective Date, wire confirmations evidencing the payment in full of the Effective Date Payoff Debt in accordance
with the amounts set forth in such payoff letters.

(g) Consolidated
Senior Net Leverage Ratio. After giving effect to all Loans to be made on the Effective Date, the Consolidated Senior Net Leverage
Ratio of the Borrower and its Subsidiaries for the 12 months ended March 31, 2025 calculated on a pro forma basis shall not be greater
than 2.75 to 1.00. The Borrower shall deliver to the Administrative Agent a certificate of an Authorized Officer of the Borrower certifying
as to the matters set forth above and containing reasonably detailed calculation of such ratio.

(h) Approvals.
All consents, authorizations and approvals of, and filings and registrations with, and all other actions in respect of, any Governmental
Authority or other Person required in connection with the making of the Loans or the conduct of the Loan Parties’ business shall
have been obtained and shall be in full force and effect.

(i) Liquidity.
After giving effect to all Loans to be made on the Effective Date, Liquidity shall not be less than $3,000,000 after the repayment of
the Existing Debt and the payment of all fees and expenses under the Loan Documents; provided that, for the purposes of calculating Liquidity
under this Section 5.1(d)(i) only, “Unrestricted Cash” shall include unrestricted cash on-hand of the Loan Parties maintained
in deposit accounts in the name of a Loan Party in the United States whether or not such deposit accounts are Controlled Accounts. The
Borrower shall deliver to the Collateral Agent a certificate of the chief financial officer or other senior officer of the Borrower certifying
as to the matters set forth above and containing the calculation of Liquidity and certifying that the accounts payable of the Loan Parties
and their Subsidiaries have been maintained and managed in the ordinary course of business and consistent with historical practices,
and that such Liquidity amount does not reflect any delays or deferrals of payment obligations.

Minimum Consolidated Adjusted EBITDA. The Consolidated Adjusted EBITDA of the Borrower and its Subsidiaries for the twelve
(12) consecutive fiscal months of the Borrower and its Subsidiaries ending on March 31, 2025 is no less than $7,000,000.

(k) Due
Diligence. The Agents shall have completed their business, legal and collateral due diligence with respect to each Loan Party and the
results thereof shall be acceptable to the Agents, in their sole and absolute discretion.

(l) Security
Interests. The Loan Documents shall create in favor of the Collateral Agent, for the benefit of the Secured Parties, a legal, valid
and enforceable first priority security interest in the Collateral secured thereby (subject only to Permitted Liens).

(m) Litigation.
There shall exist no claim, action, suit, investigation, litigation or proceeding (including, without limitation, shareholder or derivative
litigation) pending or threatened in any court or before any arbitrator or governmental authority which relates to the Loans or which,
in the opinion of the Agents, is reasonably likely to be adversely determined, and that, if adversely determined, would reasonably be
expected to have a Material Adverse Effect.

(n) Notice
of Borrowing. The Administrative Agent shall have received a Notice of Borrowing pursuant to Section 2.2.

Section
5.2. Conditions Precedent to All Loans. The obligation of any Agent or any Lender to make any Loan after the Effective Date
is subject to the fulfillment, in a manner satisfactory to the Administrative Agent, of each of the following conditions precedent:

(a) Payment
of Fees, Etc. The Borrower shall have paid all fees, costs, expenses and taxes then payable by the Borrower pursuant to this Agreement
and the other Loan Documents, including, without limitation, Sections 2.6 and 11.4.

(b) Representations
and Warranties; No Event of Default. The following statements shall be true and correct, and the submission by the Borrower to the
Administrative Agent of a Notice of Borrowing with respect to each such Loan, and the Borrower’s acceptance of the proceeds of
such Loan shall each be deemed to be a representation and warranty by each Loan Party on the date of such Loan that: (i) the representations
and warranties contained in Article VI and in each other Loan Document, certificate or other writing delivered to any Secured Party pursuant
hereto or thereto on or prior to the date of such Loan are true and correct in all material respects (except that such materiality qualifier
shall not be applicable to any representations or warranties that already are qualified or modified as to materiality or “Material
Adverse Effect” in the text thereof, which representations and warranties shall be true and correct in all respects subject to
such qualification) on and as of such date as though made on and as of such date, except to the extent that any such representation or
warranty expressly relates solely to an earlier date (in which case such representation or warranty shall be true and correct on and
as of such earlier date), (ii) at the time of and after giving effect to the making of such Loan and the application of the proceeds
thereof, no Default or Event of Default has occurred and is continuing or would result from the making of the Loan to be made on such
date and (iii) the conditions set forth in this Section 5.2 have been satisfied as of the date of such request.

(c) Legality.
The making of such Loan shall not contravene any law, rule or regulation applicable to any Secured Party.

Notices. The Administrative Agent shall have received a Notice of Borrowing pursuant to Section 2.2.

(e) Additional
Conditions for Delayed Draw Term Loan. The proceeds of the Delayed Draw Term Loan will be used to repay in full the outstanding obligations
of the Borrower under the Atrium Settlement Agreement.