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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fiscal periods ended on such respective dates, all in accordance with GAAP. All material indebtedness and other liabilities (including, without limitation, Indebtedness, liabilities for taxes, long-term leases and other unusual forward or long-term commitments), direct or contingent, of the Borrower and its Subsidiaries are set forth in the Financial Statements. Since December 31, 2024, no event or development has occurred that has had or could reasonably be expected to have a Material Adverse Effect. (ii) The Borrower has heretofore furnished to each Agent and each Lender (A) projected monthly balance sheets, income statements and statements of cash flows of the Borrower and its Subsidiaries for the Fiscal Year 2025, and (B) projected quarterly balance sheets, income statements and statements of cash flows of the Borrower and its Subsidiaries for the Fiscal Years 2026 through 2028 which projected financial statements shall be updated from time to time pursuant to Section 7.1(a)(vi).

(h) Compliance
with Law, Etc. No Loan Party or any of its Subsidiaries is in violation of (i) any of its Governing Documents, (ii) any material Requirement
of Law, or (iii) any material term of any material Contractual Obligation (including, without limitation, any Material Contract) binding
on or otherwise affecting it or any of its properties.

(i) ERISA.
(i) Each Loan Party and each Employee Plan is in compliance with all Requirements of Law in all material respects, including ERISA, the
Internal Revenue Code and the Patient Protection and Affordable Care Act of 2010, as amended by the Health Care and Education Reconciliation
Act of 2010, (ii) no ERISA Event has occurred nor is reasonably expected to occur with respect to any Employee Plan or Multiemployer Plan,
(iii) the most recent annual report (Form 5500 Series) with respect to each Pension Plan, including any required Schedule B (Actuarial
Information) thereto, copies of which have been filed with the Internal Revenue Service and delivered to the Agents, is complete and correct
and fairly presents the funding status of such Pension Plan, and since the date of such report, there has been no material adverse change
in such funding status, and (iv) each Employee Plan that is intended to be a qualified plan under Section 401(a) of the Internal Revenue
Code has been determined by the Internal Revenue Service to be qualified under Section 401(a) of the Internal Revenue Code and the trust
related thereto is exempt from federal income tax under Section 501(a) of the Internal Revenue Code. Copies of each agreement entered
into with the PBGC, the U.S. Department of Labor or the Internal Revenue Service with respect to any Employee Plan have been delivered
to the Agents.  Other than as set forth on Schedule 6.1(p), no Loan Party or any of its ERISA Affiliates has incurred any liability
to the PBGC which remains outstanding other than the payment of premiums, and there are no premium payments which have become due which
are unpaid. There are no pending or, to the best knowledge of any Loan Party, threatened claims, actions, proceedings or lawsuits (other
than claims for benefits in the normal course) asserted or instituted against (A) any Employee Plan or its assets, (B) any fiduciary with
respect to any Employee Plan, or (C) any Loan Party or any of its ERISA Affiliates with respect to any Employee Plan. Except as required
by Section 4980B of the Internal Revenue Code, no Loan Party or any of its ERISA Affiliates maintains an employee welfare benefit plan
(as defined in Section 3(1) of ERISA) that provides health benefits (through the purchase of insurance or otherwise) for any retired or
former employee of any Loan Party or any of its ERISA Affiliates or has any obligation to provide any such benefits for any current employee
after such employee’s termination of employment.

(j) Taxes,
Etc. (i) All United States federal income Tax returns and all other material state and local Tax returns and other reports required
by applicable Requirements of Law to be filed by any Loan Party have been timely filed and (ii) all required Taxes imposed upon any Loan
Party or any property of any Loan Party which have become due and payable on or prior to the date hereof have been paid, except (A) unpaid
Taxes in an aggregate amount at any one time not in excess of $50,000, or (B) Taxes contested in good faith by proper proceedings which
stay the imposition of any Lien resulting from the non-payment thereof and with respect to which adequate reserves have been set aside
for the payment thereof on the Financial Statements in accordance with GAAP.

(k) Regulations
T, U and X. No Loan Party is or will be engaged in the business of extending credit for the purpose of purchasing or carrying margin
stock (within the meaning of Regulation T, U or X), and no proceeds of any Loan will be used to purchase or carry any margin stock or
to extend credit to others for the purpose of purchasing or carrying any margin stock or for any purpose that violates, or is inconsistent
with, the provisions of Regulation T, U and X.

(l) Nature
of Business.

Loan Party is engaged in any business other than the Permitted Business.

(ii) The
Borrower does not have any material liabilities (other than liabilities arising under the Loan Documents and the Sanders Notes), own any
material assets (other than the Equity Interests of its Subsidiaries) or engage in any operations or business (other than the ownership
of its Subsidiaries).

(m) Adverse
Agreements, Etc. No Loan Party or any of its Subsidiaries is a party to any Contractual Obligation or subject to any restriction or
limitation in any Governing Document or any judgment, order, regulation, ruling or other requirement of a court or other Governmental
Authority, which (either individually or in the aggregate) has, or in the future could reasonably be expected (either individually or
in the aggregate) to have, a Material Adverse Effect.

(n) Permits,
Etc. Each Loan Party has, and is in compliance with, all permits, licenses, authorizations, approvals, entitlements and accreditations
required for such Person lawfully to own, lease, manage or operate, or to acquire, each business and Facility currently owned, leased,
managed or operated, or to be acquired, by such Person, except to the extent the failure to have or be in compliance therewith could not
reasonably be expected to have a Material Adverse Effect. No condition exists or event has occurred which, in itself or with the giving
of notice or lapse of time or both, would result in the suspension, revocation, impairment, forfeiture or non-renewal of any such permit,
license, authorization, approval, entitlement or accreditation, and there is no claim that any thereof is not in full force and effect.

(o) Properties.

(i) Each
Loan Party owns (with good and marketable title in the case of owned real property, subject only to the matters permitted by the following
sentence), or has valid leasehold interests in or valid licenses to use, all property and assets material to its business, free and clear
of all Liens except Permitted Liens and minor defects in title to the extent such defects do not interfere with its ability to conduct
its business as currently conducted or to utilize such properties for their intended purposes, in each case, in any material respect.
All such property and assets are generally in good operating order and condition, ordinary wear and tear excepted.