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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its Subsidiaries, to discuss the affairs, finances and accounts of such Person (independently or together with representatives of such Person) with the agents and representatives of any Agent in accordance with this Section 7.1(f). (g) Maintenance of Properties, Etc. Maintain and preserve, and cause each of its Subsidiaries to maintain and preserve, all of its properties which are necessary or useful in the proper conduct of its business in good working order and condition, ordinary wear and tear and casualty excepted, and comply, and cause each of its Subsidiaries to comply, at all times with the provisions of all leases to which it is a party as lessee or under which it occupies property, so as to prevent any loss or forfeiture thereof or thereunder, except to the extent the failure to so maintain and preserve or so comply could not reasonably be expected to have a Material Adverse Effect.

(h) Maintenance
of Insurance. Maintain, and cause each of its Subsidiaries to maintain, insurance with responsible and reputable insurance companies
or associations (including, without limitation, comprehensive general liability, worker’s compensation and business interruption
insurance) with respect to the Collateral and its other properties (including all real property leased or owned by it) and business, in
such amounts and covering such risks as is (i) carried generally in accordance with sound business practice by companies in similar businesses
similarly situated, (ii) required by any Requirement of Law, (iii) required by any Material Contract and (iv) in any event in amount,
adequacy and scope reasonably satisfactory to the Collateral Agent. All policies covering the Collateral are to be made payable to the
Collateral Agent for the benefit of the Agents and the Lenders, as their interests may appear, in case of loss, under a standard non-contributory
“lender” or “secured party” clause and are to contain such other provisions as the Collateral Agent may require
to fully protect the Lenders’ interest in the Collateral and to any payments to be made under such policies. If any portion of any
real estate covered by a Mortgage is at any time located in a special flood hazard area in respect of which flood insurance has been made
available under the Flood Insurance Laws, then the applicable Loan Party shall (i) maintain, or cause to be maintained, with a financially
sound and reputable insurer, flood insurance in an amount and otherwise sufficient to comply with all applicable rules and regulations
promulgated pursuant to the Flood Insurance Laws, and (ii) deliver to the Collateral Agent evidence of such compliance in form and substance
reasonably acceptable to the Collateral Agent. All certificates of insurance are to be delivered to the Collateral Agent and the policies
are to be premium prepaid, with the loss payable and additional insured endorsement in favor of the Collateral Agent for the benefit of
the Agents and the Lenders, as their respective interests may appear, and such other Persons as the Collateral Agent may designate from
time to time, and shall provide for not less than 30 days’ (ten days’ in the case of non-payment) prior written notice to
the Collateral Agent of the exercise of any right of cancellation. If any Loan Party or any of its Subsidiaries fails to maintain such
insurance, the Collateral Agent may arrange for such insurance, but at the Borrower’s expense and without any responsibility on
the Collateral Agent’s part for obtaining the insurance, the solvency of the insurance companies, the adequacy of the coverage,
or the collection of claims. Upon the occurrence and during the continuance of an Event of Default, the Collateral Agent shall have the
sole right, in the name of the Lenders, any Loan Party and its Subsidiaries, to file claims under any insurance policies, to receive,
receipt and give acquittance for any payments that may be payable thereunder, and to execute any and all endorsements, receipts, releases,
assignments, reassignments or other documents that may be necessary to effect the collection, compromise or settlement of any claims under
any such insurance policies.

(i) Obtaining
of Permits, Etc. Obtain, maintain and preserve, and cause each of its Subsidiaries to obtain, maintain and preserve, and take all
necessary action to timely renew, all permits, licenses, authorizations, approvals, entitlements and accreditations that are necessary
or useful in the proper conduct of its business, in each case, except to the extent the failure to obtain, maintain, preserve or take
such action could not reasonably be expected to have a Material Adverse Effect.

(j) Controlled
Accounts; Control Agreements.

(i) Maintain,
at all times, cash, Cash Equivalents or other amounts in deposit accounts, securities, commodities and other accounts that are Controlled
Accounts, other than with respect to Excluded Accounts; provided, however, that with respect to any deposit account which is an Excluded
Account pursuant to clause (c) of such defined term, if the balance in such account exceeds $50,000 as of the last Business Day of any
calendar month, the Loan Parties shall, within five (5) Business Days after the end of such month, transfer or cause to be transferred
the portion of such excess above $50,000 to a Controlled Account.

long as no Default or Event of Default has occurred and is continuing, the Loan Parties may amend Schedule 6.1(u), to add or replace any
deposit accounts, securities, commodities and other accounts maintained with any financial institution, securities intermediary or broker
dealer and all other similar accounts; provided, however, that (A) such account shall be reasonably satisfactory to the Collateral Agent
and the Collateral Agent shall have consented in writing in advance to the opening of such account, and (B) prior to the time of the opening
of such account (other than an Excluded Account), each Loan Party and such financial institution, securities intermediary or broker dealer
shall have executed and delivered to the Collateral Agent a Control Agreement. Each Loan Party shall close any of its Controlled Accounts
(and establish replacement accounts in accordance with the foregoing sentence) promptly and in any event within 30 days after notice from
the Collateral Agent that the creditworthiness of any financial institution, securities intermediary or broker dealer is no longer acceptable
in the Collateral Agent’s reasonable judgment, or that the operating performance, funds transfer, or availability procedures or
performance of such financial institution, securities intermediary or broker dealer with respect to the Controlled Accounts or the Collateral
Agent’s liability under any Control Agreement with such financial institution, securities intermediary or broker dealer is no longer
acceptable in the Collateral Agent’s reasonable judgment.

(iii) The
Loan Parties shall deposit or cause to be deposited promptly, and in any event no later than the next Business Day after the date of receipt
thereof, all proceeds in respect of any Collateral, all Collections (of a nature susceptible to a deposit in a bank account) and all other
amounts received by any Loan Party (including payments made by Account Debtors directly to any Loan Party and remittances on credit card
sales) into a deposit account that is a Controlled Account.

(iv) Upon
the terms and subject to the conditions set forth in a Control Agreement with respect to each deposit account that is a Controlled Account,
all amounts received in such deposit account shall, at the Administrative Agent’s direction, be wired each Business Day into the
Administrative Agent’s Account, except that, so long as no Event of Default has occurred and is continuing, the Administrative Agent
will not direct the depositary bank for each such deposit account to transfer funds in each such deposit account to the Administrative
Agent’s Account.

(k) Environmental.

(i) Keep
the Collateral free of any Environmental Lien;

(ii) Obtain,
maintain and preserve, and cause each of its Subsidiaries to obtain, maintain and preserve, and take all necessary action to timely renew,
all Environmental Permits that are necessary in the proper conduct of its business, and comply, and cause each of its Subsidiaries to
comply, with all Environmental Laws and Environmental Permits, except to the extent the failure to so obtain, maintain, preserve or comply
could not reasonably be expected to have a Material Adverse Effect;

(iii) Take
all commercially reasonable steps to prevent any Release of Hazardous Materials in violation of any Environmental Law or Environmental
Permit at, on, under or from any property owned, leased or operated by any Loan Party or its Subsidiaries that could reasonably be expected
to result in a Material Adverse Effect; and