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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Lender, the Administrative Agent shall transfer any such payments to each other non-Defaulting Lender ratably in accordance with their Pro Rata Shares (without giving effect to the Pro Rata Shares of such Defaulting Lender) (but only to the extent that such Defaulting Lender’s Loans were funded by the other Lenders) or, if so directed by the Borrower and if no Default or Event of Default has occurred and is continuing (and to the extent such Defaulting Lender’s Loans were not funded by the other Lenders), retain the same to be re-advanced to the Borrower as if such Defaulting Lender had made such Loans to the Borrower. Subject to the foregoing, the Administrative Agent may hold and, in its discretion, re-lend to the Borrower for the account of such Defaulting Lender the amount of all such payments received and retained by the Administrative Agent for the account of such Defaulting Lender.

(c) Any
such failure to fund by any Defaulting Lender shall constitute a material breach by such Defaulting Lender of this Agreement and shall
entitle the Borrower to replace the Defaulting Lender in accordance with Section 2.12 with one or more substitute Lenders, and the Defaulting
Lender shall have no right to refuse to be replaced hereunder. Such notice to replace the Defaulting Lender shall specify an effective
date for such replacement, which date shall not be later than 15 Business Days after the date such notice is given. Prior to the effective
date of such replacement, the Defaulting Lender shall execute and deliver an Assignment and Acceptance, subject only to the Defaulting
Lender being repaid its share of the outstanding Obligations without any premium or penalty of any kind whatsoever. If the Defaulting
Lender shall refuse or fail to execute and deliver any such Assignment and Acceptance prior to the effective date of such replacement,
the Defaulting Lender shall be deemed to have executed and delivered such Assignment and Acceptance. The replacement of any Defaulting
Lender shall be made in accordance with the terms of Section 11.7.

(d) The
operation of this Section shall not be construed to increase or otherwise affect the Commitments of any Lender, to relieve or excuse the
performance by such Defaulting Lender or any other Lender of its duties and obligations hereunder, or to relieve or excuse the performance
by the Borrower of its duties and obligations hereunder to the Administrative Agent or to the Lenders other than such Defaulting Lender.

(e) This
Section shall remain effective with respect to such Lender until either (i) the Obligations under this Agreement shall have been declared
or shall have become immediately due and payable or (ii) the non-Defaulting Lenders, the Agents, and the Borrower shall have waived such
Defaulting Lender’s default in writing, and the Defaulting Lender makes its Pro Rata Share of the applicable defaulted Loans and
pays to the Agents all amounts owing by such Defaulting Lender in respect thereof; provided that no adjustments will be made retroactively
with respect to fees accrued or payments made by or on behalf of the Borrower while such Lender was a Defaulting Lender; provided, further,
that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will
constitute a waiver or release of any claim of any party hereunder arising from such Lender’s having been a Defaulting Lender.

Article

CONDITIONS TO LOANS

Section 5.1. Conditions
Precedent to Effectiveness. This Agreement shall become effective as of the Business Day (the “Effective Date”)
when each of the following conditions precedent shall have been satisfied in a manner satisfactory to the Agents:

(a) Payment
of Fees, Etc. The Borrower shall have paid on or before the Effective Date all fees, costs, expenses and taxes then payable pursuant
to Sections 2.6 (including the Fee Letter) and 11.4.

(b) Representations
and Warranties; No Event of Default. The following statements shall be true and correct: (i) the representations and warranties contained
in Article VI and in each other Loan Document, certificate or other writing delivered to any Secured Party pursuant hereto or thereto
on or prior to the Effective Date are true and correct on and as of the Effective Date as though made on and as of such date, except to
the extent that any such representation or warranty expressly relates solely to an earlier date (in which case such representation or
warranty shall be true and correct on and as of such earlier date) and (ii) no Default or Event of Default shall have occurred and be
continuing on the Effective Date or would result from this Agreement or the other Loan Documents becoming effective in accordance with
its or their respective terms.

(c) Legality.
The making of the initial Loans shall not contravene any law, rule or regulation applicable to any Secured Party.

(d) Delivery
of Documents. The Agents shall have received on or before the Effective Date the following, each in form and substance satisfactory
to the Agents and, unless indicated otherwise, dated the Effective Date and, if applicable, duly executed by the Persons party thereto:

(i) subject
Section 5.3, a Security Agreement, together with (A) the original stock certificates representing all of the Equity Interests and all
promissory notes required to be pledged thereunder, accompanied by undated stock powers executed in blank and other proper instruments
of transfer, and registration pages and executed irrevocable proxies with respect to such Equity Interests, and (B) each Intellectual
Property Security Agreement, executed by each Loan Party as required thereunder, for filing in the United States Patent and Trademark
Office or the United States Copyright Office, as applicable;

UCC Filing Authorization Letter, dated and effective as of May 29, 2025, authorizing the Collateral Agent (or its designee) to complete
the filing of appropriate financing statements on Form UCC-1 in such office or offices as may be necessary or, in the opinion of the Collateral
Agent, desirable to perfect the security interests purported to be created by each Security Agreement;

(iii) the
results of searches for any effective UCC financing statements, tax Liens or judgment Liens filed against any Loan Party or its property,
which results shall not show any such Liens (other than Permitted Liens acceptable to the Collateral Agent);

(iv) the
Canadian Security Documents duly executed by the parties thereto;

acknowledgment of PPSA verification statements dated and effective as of the Effective Date, confirming receipt by the Loan Parties of
all appropriate PPSA financing statements in such office or offices as may be necessary or, in the opinion of the Collateral Agent, desirable
to perfect the security interests purported to be created by the Canadian Security Documents;

(vi) the
results of searches for any effective PPSA financing statements filed against any Loan Party or its property, which results shall not
show any such Liens (other than Permitted Liens acceptable to the Collateral Agent);

(vii) an
executed notice of security interest in Intellectual Property to be registered with CIPO in respect of the security interests purported
to be created by the Canadian Security Documents;

(viii) [reserved];

(ix) the
Information Certificate;

(x) the
Disbursement Letter;

(xi) the
Fee Letter;

(xii) the
Intercompany Subordination Agreement;

(xiii) the
Sanders Subordination Agreements;

(xiv) a
certificate of an Authorized Officer of each Loan Party, certifying (A) as to copies of the Governing Documents of such Loan Party, together
with all amendments thereto (including, without limitation, a true and complete copy of the charter, certificate of formation, certificate
of limited partnership or other publicly filed organizational document of each Loan Party certified as of a recent date not more than
30 days prior to the Effective Date by an appropriate official of the jurisdiction of organization of such Loan Party which shall set
forth the same complete name of such Loan Party as is set forth herein and the organizational number of such Loan Party, if an organizational
number is issued in such jurisdiction), (B) as to a copy of the resolutions or written consents of such Loan Party authorizing (1) the
borrowings hereunder and the transactions contemplated by the Loan Documents to which such Loan Party is or will be a party, and (2) the
execution, delivery and performance by such Loan Party of each Loan Document to which such Loan Party is or will be a party and the execution
and delivery of the other documents to be delivered by such Person in connection herewith and therewith, (C) the names and true signatures
of the representatives of such Loan Party authorized to sign each Loan Document (in the case of a Borrower, including, without limitation,
Notices of Borrowing, Term SOFR Rate Notices and all other notices under this Agreement and the other Loan Documents) to which such Loan
Party is or will be a party and the other documents to be executed and delivered by such Loan Party in connection herewith and therewith,
together with evidence of the incumbency of such authorized officers and (D) as to the matters set forth in Section 5.1(b);