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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exceed fifty percent (50%) of such Net Cash Proceeds; and (f) 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. “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.

“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:

(a) for
any calculation with respect to a Term SOFR Rate Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest
Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) U.S. Government Securities
Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, however,
that if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable
tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate
has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the
first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term
SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government
Securities Business Days prior to such Periodic Term SOFR Determination Day; and

(b) for
any calculation with respect to a Reference Rate Loan on any day, the Term SOFR Reference Rate for a tenor of one month on the day (such
day, the “Reference Rate Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior
to such day, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time)
on any Reference Rate Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the
Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR
will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government
Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as
such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior
to such Reference Rate Term SOFR Determination Day;

provided, further, that if Term
SOFR determined as provided above (including pursuant to the proviso under clause (a) or clause (b) above) shall ever be less than the
Floor, then Term SOFR shall be deemed to be the Floor.

“Term SOFR Administrator”
means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative
Agent in its reasonable discretion).

“Term SOFR Rate Deadline”
has the meaning specified therefor in Section 2.7(a).