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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and its Subsidiaries as of the end of such fiscal quarter of the Borrower ending on or most recently preceding the date of the receipt of such proceeds was equal to or greater than 3.002.50 to 1.00 and (B2) 0% of the Net Cash Proceeds received by such Person in connection therewith if the Consolidated Senior Net Leverage Ratio of the Borrower and its Subsidiaries as of the end of such fiscal quarter of the Borrower ending on or most recently preceding the date of the receipt of such proceeds was less than 3.002.50 to 1.00. TheFor the avoidance of doubt, the provisions of this Section 2.5(c)(v)Section 2.5(c)(v) shall govern the application of such Net Cash Proceeds notwithstanding any other provisions in this Section 2.5(c), and shall not be deemed to be impliedconstitute consent to any such issuance or sale otherwise prohibited by the terms and conditions of this Agreement.

(vi) Notwithstanding
the foregoing, with respect to Net Cash Proceeds received by any Loan Party or any of its Subsidiaries in connection with a Disposition
or the receipt of Extraordinary Receipts consisting of insurance proceeds or condemnation awards that are required to be used to prepay
the Obligations pursuant to Section 2.5(c)(ii) or 2.5(c)(iv), as the case may be, up to $250,000 in the aggregate in any Fiscal Year
of the Net Cash Proceeds from all such Dispositions and Extraordinary Receipts shall not be required to be so used to prepay the Obligations
to the extent that such Net Cash Proceeds are used to purchase, replace, repair or restore properties or assets (other than current assets)
used in such Person’s business; provided that, (A) no Default or Event of Default has occurred and is continuing on the date such
Person receives such Net Cash Proceeds, (B) the Borrower delivers a certificate to the Administrative Agent at least three (3) days prior
to the proposed consummation date of such Disposition or anticipated receipt of insurance proceeds or condemnation awards, as the case
may be, stating that such Net Cash Proceeds shall be used to purchase, replace, repair or restore properties or assets used in the Permitted
Business within a period specified in such certificate not to exceed 180 days after the date of receipt of such Net Cash Proceeds (which
certificate shall set forth estimates of the Net Cash Proceeds to be so expended), (C) such Net Cash Proceeds are deposited in a Controlled
Account, and (D) upon the earlier of (1) the expiration of the period specified in the relevant certificate furnished to the Administrative
Agent pursuant to clause (B) above or (2) the occurrence of a Default or an Event of Default, such Net Cash Proceeds, if not theretofore
so used, shall be used to prepay the Obligations in accordance with Section 2.5(c)(ii) or 2.5(c)(iv) as applicable.

(vii) Upon
the incurrence by any Loan Party or any of its Subsidiaries of any Indebtedness under an ABL Facility, the Borrower shall prepay the
outstanding amount of the Loans in accordance with Section 2.5(d) in an amount equal to 100% of the Net Cash Proceeds received by such
Person in connection therewith, up to an amount equal to the amount by which the aggregate principal amount of the Term Loans funded
under this Agreement as of such date exceeds $15,000,000. The provisions of this Section 2.5(c)(vii) shall not be deemed to be implied
consent to the ABL Facility in contravention of any of the terms and conditions of this Agreement.

(d) Application
of Payments. Each prepayment pursuant to subsections (c)(i), (c)(ii), (c)(iii), (c)(iv), (c)(v), (c)(vi) and (c)(vii) above shall
be applied first, ratably, to any outstanding Agent Advances until paid in full; and second, ratably, to the Term Loan,
until paid in full. Each such prepayment of the Term Loan shall be applied against the remaining installments of principal of the Term
Loan in the inverse order of maturity. Notwithstanding the foregoing, after the occurrence and during the continuance of an Event of
Default, if the Administrative Agent has elected, or has been directed by the Collateral Agent or the Required Lenders, to apply payments
in respect of any Obligations in accordance with Section 4.3(b), prepayments required under Section 2.5(c) shall be applied in the manner
set forth in Section 4.3(b).

(e) Interest
and Fees. Any prepayment made pursuant to this Section 2.5 shall be accompanied by (i) accrued interest on the principal amount being
prepaid to the date of prepayment, (ii) any Funding Losses payable pursuant to Section 2.8 and (iii) the Applicable Premium, if any,
payable in connection with such prepayment of the Loans to the extent required under Section 2.6.

(f) Cumulative
Prepayments. Except as otherwise expressly provided in this Section 2.5, payments with respect to any subsection of this Section
2.5 are in addition to payments made or required to be made under any other subsection of this Section 2.5.

Section
2.6. Fees.

Applicable Premium.

(i) Upon
the occurrence of an Applicable Premium Trigger Event, the Borrower shall pay to the Administrative Agent, for the account of the Lenders
in accordance with their Pro Rata Shares, the Applicable Premium.

(ii) Any
Applicable Premium payable in accordance with this Section 2.6(a) shall be presumed to be equal to the liquidated damages sustained by
the Lenders as the result of the occurrence of the Applicable Premium Trigger Event and the Loan Parties agree that it is reasonable
under the circumstances currently existing. THE LOAN PARTIES EXPRESSLY WAIVE THE PROVISIONS OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT
PROHIBITS OR MAY PROHIBIT THE COLLECTION OF THE FOREGOING APPLICABLE PREMIUM IN CONNECTION WITH ANY ACCELERATION.

(iii) The
Loan Parties expressly agree that: (A) the Applicable Premium is reasonable and is the product of an arm’s length transaction between
sophisticated business people, ably represented by counsel; (B) the Applicable Premium shall be payable notwithstanding the then prevailing
market rates at the time payment is made; (C) there has been a course of conduct between the Lenders and the Loan Parties giving specific
consideration in this transaction for such agreement to pay the Applicable Premium; (D) the Loan Parties shall be estopped hereafter
from claiming differently than as agreed to in this paragraph; (E) their agreement to pay the Applicable Premium is a material inducement
to Lenders to provide the Commitments and make the Loans; and (F) the Applicable Premium represents a good faith, reasonable estimate
and calculation of the lost profits or damages of the Agents and the Lenders and that it would be impractical and extremely difficult
to ascertain the actual amount of damages to the Agents and the Lenders or profits lost by the Agents and the Lenders as a result of
such Applicable Premium Trigger Event.

(iv) Nothing
contained in this Section 2.6(a) shall permit any prepayment of the Loans or reduction of the Commitments not otherwise permitted by
the terms of this Agreement or any other Loan Document.

(b) Audit
and Collateral Monitoring Fees. The Borrower acknowledges that pursuant to Section 7.1(f), representatives of the Agents may visit
any or all of the Loan Parties and/or conduct inspections, audits, physical counts, valuations, appraisals, environmental site assessments
and/or examinations of any or all of the Loan Parties at any time and from time to time during normal business hours, and at any reasonable
time following reasonable advance written notice (but in no event less than two (2) Business Days unless has occurred and is continuing).
The Borrower agrees to pay (i) $1,500 per day per examiner plus the examiner’s reasonable out-of-pocket costs and reasonable expenses
incurred in connection with all such visits, inspections, audits, physical counts, valuations, appraisals, environmental site assessments
and/or examinations, and (ii) the cost of all visits, inspections, audits, physical counts, valuations, appraisals, environmental site
assessments and/or examinations conducted by a third party on behalf of the Agents; provided that so long as no Event of Default shall
have occurred and be continuing, the Borrower shall not be obligated to reimburse the Agents for more than (A) one (1) inspection visits
in any calendar year and (B) one (1) audit, physical count, valuation, appraisal, environmental site assessment and/or examination during
any calendar year; provided further that if an Event of Default has occurred and is continuing, all such inspections, audits, physical
counts, valuations, appraisals, environmental site assessments and/or examinations of any or all of the Loan Parties during such occurrence
and continuation shall be at the expense of the Borrower.

(c) Fee
Letter. As and when due and payable under the terms of the Fee Letter, the Borrower shall pay the fees set forth in the Fee Letter.

Section
2.7. Term SOFR Rate Option; Benchmark Replacement.