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

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or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.2(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) [reserved]; (C) any agreement in effect on the date of this Agreement and described on Schedule 7.2(k) hereto, or any extension, replacement or continuation of any such agreement; provided that, any such encumbrance or restriction contained in such extended, replaced or continued agreement is no less favorable to the Agents and the Lenders than the encumbrance or restriction under or pursuant to the agreement so extended, replaced or continued;

(D) any
applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes
restricting the payment of dividends in certain circumstances);

the case of clause (iv), (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset set forth
in a lease, license, asset, sale agreement or similar contract for the conveyance of such property or asset and (2) instrument or other
document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property
or assets subject thereto;

(F) customary
restrictions on dispositions of real property interests in reciprocal easement agreements;

(G) customary
restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the
closing of the sale of such assets; or

(H) customary
restrictions in contracts that prohibit the assignment of such contract.

(l) Limitations
on Negative Pledges. Enter into, incur or permit to exist, or permit any Subsidiary to enter into, incur or permit to exist, directly
or indirectly, any agreement, instrument, deed, lease or other arrangement that prohibits, restricts or imposes any condition upon the
ability of any Loan Party or any Subsidiary of any Loan Party to create, incur or permit to exist any Lien upon any of its property or
revenues, whether now owned or hereafter acquired, or that requires the grant of any security for an obligation if security is granted
for another obligation, except the following: (i) this Agreement and the other Loan Documents, (ii) restrictions or conditions imposed
by any agreement relating to secured Indebtedness permitted by Section 7.2(b) if such restrictions or conditions apply only to the property
or assets securing such Indebtedness, (iii) any customary restrictions and conditions contained in agreements relating to the sale or
other disposition of assets or of a Subsidiary pending such sale or other disposition, provided that such restrictions and conditions
apply only to the assets or Subsidiary to be sold or disposed of and such sale or disposition is permitted hereunder, (iv) [reserved]
and (v) customary provisions in leases restricting the assignment or sublet thereof.

(m) Modifications
of Indebtedness, Organizational Documents and Certain Other Agreements; Etc.

(i) Amend,
modify or otherwise change (or permit the amendment, modification or other change in any manner of) any of the provisions of any of its
or its Subsidiaries’ Indebtedness or of any instrument or agreement (including, without limitation, any purchase agreement, indenture,
loan agreement or security agreement) relating to any such Indebtedness if such amendment, modification or change (A) in respect of any
Sanders Note or any other Subordinated Indebtedness, would violate the Sanders Subordination Agreement or other Subordination Agreement
applicable thereto or (B) in respect of any other Indebtedness would shorten the final maturity or average life to maturity of, or require
any payment to be made earlier than the date originally scheduled on, such Indebtedness, would increase the interest rate applicable to
such Indebtedness, would add any covenant or event of default, would change the subordination provision, if any, of such Indebtedness,
or would otherwise be adverse to the Lenders or the issuer of such Indebtedness in any respect;

(ii) except
for the Obligations:

(A) make
any voluntary or optional payment (including, without limitation, any payment of interest in cash that, at the option of the issuer, may
be paid in cash or in kind), prepayment, redemption, defeasance, sinking fund payment or other acquisition for value of any of its or
its Subsidiaries’ Indebtedness (including, without limitation, by way of depositing money or securities with the trustee therefor
before the date required for the purpose of paying any portion of such Indebtedness when due);

(B) refund,
refinance, replace or exchange any other Indebtedness for any such Indebtedness (other than with respect to Permitted Refinancing Indebtedness);

(C) make
any payment, prepayment, redemption, defeasance, sinking fund payment or repurchase, including payments of interest, of any Subordinated
Indebtedness (including any Sanders Note) in violation of the subordination provisions thereof or any Subordination Agreement (including
any Sanders Subordination Agreement applicable thereto) with respect thereto other than (1) any payments of interest in respect of any
Sanders Notes so long as, as of the date of any such interest payment and after giving effect thereto, the Sanders Notes Interest Payment
Conditions are satisfied and (2) prepayments of principal in respect of any Sanders Notes, so long as, as of the date of any such prepayment
after giving effect thereto, the Sanders Notes Principal Payment Conditions are satisfied, and in each case with respect to the foregoing
clauses (1) and (2), such prepayment would not otherwise be prohibited by any applicable Sanders Subordination Agreement with respect
to such Sanders Note; or

(D) make
any payment, prepayment, redemption, defeasance, sinking fund payment or repurchase of any Indebtedness as a result of any asset sale,
change of control, issuance and sale of debt or equity securities or similar event, or give any notice with respect to any of the foregoing;

(iii) amend,
modify or otherwise change any of its Governing Documents (including, without limitation, by the filing or modification of any certificate
of designation, or any agreement or arrangement entered into by it) with respect to any of its Equity Interests (including any shareholders
agreement), or enter into any new agreement with respect to any of its Equity Interests, except any such amendments, modifications or
changes or any such new agreements or arrangements pursuant to this clause (iii) that either individually or in the aggregate could not
reasonably be expected to have a Material Adverse Effect, provided that no such amendment, modification or change or new agreement or
arrangement shall provide for any plan of division pursuant to Section 18-217 of the Delaware Limited Liability Company Act (or any similar
statute or provision under applicable law); or

(iv) agree
to any amendment, modification or other change to or waiver of any of its rights under any Material Contract if such amendment, modification,
change or waiver would be adverse in any material respect to any Loan Party or any of its Subsidiaries or the Agents and the Lenders.

(n) Investment
Company Act of 1940. Engage in any business, enter into any transaction, use any securities or take any other action or permit any
of its Subsidiaries to do any of the foregoing, that would cause it or any of its Subsidiaries to become subject to the registration requirements
of the Investment Company Act of 1940, as amended, by virtue of being an “investment company” or a company “controlled”
by an “investment company” not entitled to an exemption within the meaning of such Act.

(o) ERISA.

(i) Cause
or fail to prevent, or permit any of its ERISA Affiliates to cause or fail to prevent, an ERISA Event, or

(ii) adopt,
or permit any of its ERISA Affiliates to adopt, any employee welfare benefit plan within the meaning of Section 3(1) of ERISA that provides
benefits to employees after termination of employment other than as required by Section 601 of ERISA or other Requirements of Law.

(p) Environmental.
Permit the use, handling, generation, storage, treatment, Release or disposal of Hazardous Materials at any property owned, leased or
operated by it or any of its Subsidiaries, except in compliance with Environmental Laws (other than any noncompliance that could not reasonably
be expected to have a Material Adverse Effect).

(q) Accounting
Methods. Modify or change, or permit any of its Subsidiaries to modify or change, its method of accounting or accounting principles
from those utilized in the preparation of the Financial Statements (other than as may be required to conform to GAAP).

(r) [Reserved].

(s) Sanctioned
Persons; Anti-Corruption Laws; Anti-Money Laundering Laws.

(i) Conduct,
nor permit any of its Subsidiaries to conduct, any business or engage in any transaction or deal with or for the benefit of any Sanctioned
Person, including the making or receiving of any contribution of funds, goods or services to, from or for the benefit of any Sanctioned
Person; or