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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Document Content:

Control of the U.S. Department of the Treasury. “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). “Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document. “Participant Register” has the meaning specified therefor in Section 11.7(i).

“Payment Office”
means the Administrative Agent’s office located at 600 Lexington Ave., 14th Floor New York, New York 10022, or at such other office
or offices of the Administrative Agent as may be designated in writing from time to time by the Administrative Agent to the Collateral
Agent and the Borrower.

“PBGC” means
the Pension Benefit Guaranty Corporation or any successor thereto.

“Pension Plan”
means an Employee Plan that is subject to Section 412 of the Internal Revenue Code, Section 302 of ERISA or Title IV of ERISA maintained,
sponsored or contributed to, or for which there is an obligation to contribute to, by any Loan Party or any of its ERISA Affiliates at
any time during the preceding six calendar years.

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

“Permitted Acquisition”
means any Acquisition by a Person to the extent that each of the following conditions shall have been satisfied:

Default or Event of Default shall have occurred and be continuing or would result from the consummation of the proposed Acquisition;

the extent the Acquisition will be financed in whole or in part with the proceeds of any Loan, the conditions set forth in Section 5.2
shall have been satisfied;

(c) the
Borrowers shall have furnished to the Agents at least twenty (20) Business Days (or such shorter period as the Agents may agree in their
sole discretion) prior to the consummation of such Acquisition (i) an executed term sheet and/or commitment letter (setting forth in reasonable
detail the terms and conditions of such Acquisition) and, at the request of any Agent, such other information and documents that any Agent
may request, including, without limitation, drafts of the respective agreements, instruments or other documents pursuant to which such
Acquisition is to be consummated (including, without limitation, any related management, non-compete, employment, option or other material
agreements), any schedules to such agreements, instruments or other documents and all other material ancillary agreements, instruments
or other documents to be executed or delivered in connection therewith, (ii) pro forma financial statements of the Borrower and its Subsidiaries
after the consummation of such Acquisition, (iii) a certificate of the chief financial officer of the Borrower, demonstrating on a pro
forma basis compliance, as at the end of the most recently ended fiscal quarter for which internally prepared financial statements are
available, with all covenants set forth in Section 7.3 after the consummation of such Acquisition, and (iv) copies of such other agreements,
instruments or other documents as any Agent shall reasonably request;

(d)  such Acquisition
shall be effected in such a manner so that the acquired assets or Equity Interests are owned by a Loan Party and, if effected by merger
or consolidation involving such Loan Party, such Loan Party shall be the continuing or surviving Person;

(e) the
Loan Parties shall have Liquidity in an amount equal to or greater than $2,500,000 immediately after giving effect to the consummation
of the proposed Acquisition;

(f) the
assets being acquired (other than a de minimis amount of assets in relation to the assets being acquired) are located within a Qualified
Jurisdiction or the Person whose Equity Interests are being acquired is organized in a jurisdiction located within a Qualified Jurisdiction;

(g) such
Acquisition shall be consensual and shall have been approved by the board of directors of the Person whose Equity Interests or assets
are proposed to be acquired and shall not have been preceded by an unsolicited tender offer for such Equity Interests by, or proxy contest
initiated by, any Borrower or any of its Subsidiaries or an Affiliate thereof;

(h) any
such Subsidiary (and its equityholders) shall execute and deliver the agreements, instruments and other documents required by Section
7.1(b) on or prior to the date of the consummation of such Acquisition (or such later date as may be agreed by the Agent); and

(i) such
Acquisition shall be subject to the Agent’s prior written approval (such approval not to be unreasonably withheld).

“Permitted Business”
means the manufacture and provision of consumer health care, beauty, and lifestyle products and any business similar in nature to such
business conducted by the Borrower and its Subsidiaries on the Effective Date and any business reasonably ancillary, incidental, complementary
or related to the business conducted by Borrower and its Subsidiaries on the Effective Date or a reasonable extension, development or
expansion thereof, in each case, as determined in good faith by the Board of Directors of the Borrower.

“Permitted Disposition”
means:

(a) sale
of Inventory in the ordinary course of business;

(b) licensing,
on a non-exclusive basis, Intellectual Property rights in the ordinary course of business;

(c) leasing
or subleasing assets in the ordinary course of business;

the lapse of Registered Intellectual Property of the Borrower and its Subsidiaries to the extent not economically desirable in the conduct
of their business or (ii) the abandonment of Intellectual Property rights in the ordinary course of business so long as (in each, case
under clauses (i) and (ii)), (A) with respect to copyrights, such copyrights are not material revenue generating copyrights, and (B) such
lapse is not materially adverse to the interests of the Secured Parties;

(e) any
involuntary loss, damage or destruction of property;

(f) any
involuntary condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, or confiscation or requisition of
use of property;

long as no Event of Default has occurred and is continuing or would result therefrom, transfers of assets (i) from any Loan Party to another
Loan Party, and (ii) from any Subsidiary that is not a Loan Party to a Loan Party;

(h) Dispositions
of cash and/or Cash Equivalents;

(i) Dispositions
of assets that would constitute a Permitted Restricted Payment or a Permitted Investment;

(j) Disposition
of obsolete or worn-out equipment in the ordinary course of business;

long as no Default or Event of Default has occurred and is continuing or would result therefrom, Disposition of property or assets not
otherwise permitted in clauses (a) through (j) above for cash in an aggregate amount not less than the fair market value of such property
or assets where no less than 75% of the consideration is received in cash; provided that the Net Cash Proceeds of such Dispositions (including
the proposed Disposition) in the case of this clause (k), do not exceed $350,000 in the aggregate in any Fiscal Year; and

(l) Dispositions
of assets acquired by a Loan Party pursuant to a Permitted Acquisition consummated within 12 months of the date of the proposed disposition
so long as (i) the consideration received for the assets to be so disposed is at least equal to the fair market value of such assets,
(ii) the assets to be so disposed are not necessary or economically desirable in connection with the business of Loan Parties, and (iii)
the assets to be disposed of are readily identifiable as assets acquired pursuant to the subject Permitted Acquisition.

Net Cash Proceeds in all cases
are to be paid to the Collateral Agent for the benefit of the Agents and the Lenders pursuant to and to the extent required under the
terms of Section 2.5(c)(ii) or applied as provided in Section 2.5(c)(vi).

“Permitted Indebtedness”
means:

(a) any
Indebtedness owing to any Agent or any Lender under this Agreement and the other Loan Documents;

(b) any
other Indebtedness listed on Schedule 7.2(b), and any Permitted Refinancing Indebtedness in respect of such Indebtedness;

(c) Permitted
Purchase Money Indebtedness and any Permitted Refinancing Indebtedness in respect of such Indebtedness;

(d) Permitted
Intercompany Investments;

(e) Indebtedness
incurred in the ordinary course of business under performance, surety, statutory and appeal bonds;

(f) Indebtedness
owed to any Person providing property, casualty, liability, or other insurance to the Loan Parties, so long as the amount of such Indebtedness
is not in excess of the amount of the unpaid cost of, and shall be incurred only to defer the cost of, such insurance for the period in
which such Indebtedness is incurred and such Indebtedness is outstanding only during such period;