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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Exhibit 10.1

EXECUTION VERSION

TERM LOAN CREDIT AGREEMENT

Dated as of May 30, 2025

by and among

SYNERGY CHC CORP.,

as Borrower,

EACH SUBSIDIARY OF THE BORROWER

LISTED AS A GUARANTOR ON THE SIGNATURE PAGES HERETO,

as Guarantors,

THE LENDERS FROM TIME TO TIME PARTY HERETO,

as Lenders,

ACP
AGENCY, LLC,

as Administrative Agent,

and

ACP
AGENCY, LLC,

as Collateral Agent

Table of Contents

Page

Article I DEFINITIONS; CERTAIN TERMS 1

Section 1.1.	Definitions 1

Section 1.2.	Terms Generally 1

Section 1.3.	Certain Matters of Construction 1

Section 1.4.	Accounting and Other Terms 49

Section 1.5.	Pro Forma Calculations 50

Section 1.6.	Time References 50

Section 1.7.	Obligation to Make Payments in Dollars 50

Section 1.8.	Interest Rates Disclaimer 50

Article II THE LOANS 51

Section 2.1.	Commitments 51

Section 2.2.	Making the Loans 51

Section 2.3.	Repayment of Loans; Evidence of Debt 52

Section 2.4.	Interest 53

Section 2.5.	Reduction of Commitment; Prepayment of Loans 54

Section 2.6.	Fees 57

Section 2.7.	Term SOFR Rate Option; Benchmark Replacement 58

Section 2.8.	Funding Losses 60

Section 2.9.	Taxes 61

Section 2.10.	Increased Costs and Reduced Return 64

Section 2.11.	Changes in Law; Impracticability or Illegality 65

Section 2.12.	Replacement of Lenders 66

Section 2.13.	Incremental Facilities 67

Article III [INTENTIONALLY OMITTED]

Article IV APPLICATION OF PAYMENTS; DEFAULTING LENDERS 68

Section 4.1.	Payments; Computations and Statements 68

Section 4.2.	Sharing of Payments 69

Section 4.3.	Apportionment of Payments 70

Section 4.4.	Defaulting Lenders 71

Article V CONDITIONS TO LOANS

Section 5.1.	Conditions Precedent to Effectiveness 72

Section 5.2.	Conditions Precedent to All Loans 77

Section 5.3.	Conditions Subsequent to Effecitveness 78

Article VI REPRESENTATIONS AND WARRANTIES

Section 6.1.	Representations and Warranties 79

Article VII COVENANTS OF THE LOAN PARTIES AND OTHER COLLATERAL MATTERS

Section 7.1.	Affirmative Covenants 88

Section 7.2.	Negative Covenants 99

Section 7.3.	Financial Covenants 106

Article VIII EVENTS OF DEFAULT

Section 8.1.	Events of Default 106

Article IX AGENTS

Section 9.1.	Appointment 110

Section 9.2.	Nature of Duties; Delegation 111

Section 9.3.	Rights, Exculpation, Etc . 111

Section 9.4.	Reliance 111

Section 9.5.	Indemnification 112

Section 9.6.	Agents Individually 112

Section 9.7.	Successor Agent 112

Section 9.8.	Collateral Matters 113

Section 9.9.	Agency for Perfection 115

Section 9.10.	No Reliance on any Agent’s Customer Identification Program 115

Section 9.11.	No Third-Party Beneficiaries 115

Section 9.12.	No Fiduciary Relationship 115

Section 9.13.	Reports; Confidentiality; Disclaimers 115

Section 9.14.	Collateral Custodian 116

Section 9.15.	Collateral Agent May File Proofs of Claim 116

Section 9.16.	Erroneous Distribution 117

Article X GUARANTY

Section 10.1.	Guaranty 117

Section 10.2.	Guaranty Absolute 117

Section 10.3.	Waiver 118

Section 10.4.	Continuing Guaranty; Assignments 119

Section 10.5.	Subrogation 119

Section 10.6.	Contribution 120

Article XI MISCELLANEOUS 120

Section 11.1.	Notices, Etc. 120

Section 11.2.	Amendments, Etc. 122

Section 11.3.	No Waiver; Remedies, Etc . 124

Section 11.4.	Expenses; Taxes; Attorneys’ Fees 125

Section 11.5.	Right of Set-off 126

Section 11.6.	Severability 126

Section 11.7.	Assignments and Participations 126

Section 11.8.	Counterparts 130

Section 11.9.	Governing Law 130

Section 11.10.	Consent to Jurisdiction; Service of Process and Venue 131

Section 11.11.	Waiver of Jury Trial, Etc . 132

Section 11.12.	Consent by the Agents and Lenders 132

Section 11.13.	No Party Deemed Drafter 132

Section 11.14.	Reinstatement; Certain Payments 132

Section 11.15.	Indemnification; Limitation of Liability for Certain Damages 133

Section 11.16.	Records 134

Section 11.17.	Binding Effect 134

Section 11.18.	Highest Lawful Rate 134

Section 11.19.	Confidentiality 135

Section 11.20.	Public Disclosure 136

Section 11.21.	Integration 136

Section 11.22.	USA PATRIOT Act 136

Section 11.23.	Judgment Currency 136

Section 11.24.	Waiver of Immunity 136

Section 11.25.	English Language 136

SCHEDULE AND EXHIBITS

Schedule 1.1(A)	Lenders and Lenders’ Commitments

Schedule 1.1(B)	Effective Date Payoff Debt

Schedule 6.1(e)	Capitalization; Subsidiaries

Schedule 6.1(f)	Litigation

Schedule 6.1(o)	Facilities; Real Property

Schedule 6.1(p)	Employee and Labor Matters

Schedule 6.1(q)	Environmental Matters

Schedule 6.1(r)	Insurance

Schedule 6.1(u)	Deposit, Securities and Commodities Accounts

Schedule 6.1(v)	Intellectual Property

Schedule 6.1(w)	Material Contracts

Schedule 6.1(bb)	Name; Jurisdiction of Organization; Organizational ID Number; Chief

Place of Business; Chief Executive Office; FEIN

Schedule 7.2(a)	Existing Liens

Schedule 7.2(b)	Existing Indebtedness

Schedule 7.2(e)	Existing Investments

Schedule 7.2(j)	Existing Transactions with Affiliates

Schedule 7.2(k)	Limitations on Dividends and Other Payment Restrictions

Exhibit A	Form of Joinder Agreement

Exhibit B	Form of Security Agreement

Exhibit C	Form of Information Certificate

Exhibit D	Form of Assignment and Acceptance

Exhibit E	Form of Notice of Borrowing

Exhibit F	Form of Term SOFR Rate Notice

Exhibit G	Form of Compliance Certificate

Exhibit H	Forms of U.S. Tax Compliance Certificate

TERM LOAN CREDIT AGREEMENT

This TERM LOAN Credit
Agreement, dated as of May 30, 2025, is by and among SYNERGY CHC CORP., a Nevada corporation (the “Borrower”),
each subsidiary of the Borrower listed as a “Guarantor” on the signature pages hereto (together with each other Person that
executes a joinder agreement and becomes a “Guarantor” hereunder, each, a “Guarantor” and, collectively,
the “Guarantors”), the lenders from time to time party hereto (each, a “Lender” and, collectively,
the “Lenders”), ACP AGENCY, LLC (“ACP”), as
administrative agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, the “Administrative
Agent”), and ACP, as collateral agent for the Lenders (in such capacity, together with its successors and assigns in such capacity,
the “Collateral Agent”, and, together with the Administrative Agent, each, an “Agent” and, collectively,
the “Agents”).

The Borrower has asked the Lenders
to enter into this Agreement (i) to extend credit to the Borrower consisting of (a) a term loan in the aggregate principal amount of $15,000,000,
and (b) a delayed draw term loan in the aggregate principal amount of up to $2,500,000, and (ii) which contemplates that, subject to the
satisfaction of certain conditions, the Borrower may request, from time to time, incremental term loans in an aggregate principal amount
not to exceed $2,500,000 pursuant to an incremental facility, which may be provided subject to the discretion of the Administrative Agent.
The proceeds of the term loan shall be used to repay existing indebtedness of the Borrower, for general corporate purposes of the Borrower
and to pay the Transaction Costs and the proceeds of the delayed draw term loan will be used to pay the outstanding obligations of the
Borrower under each of the Atrium Settlement Agreement and the Vitabest Settlement Agreement. The Agents and the Lenders are willing to
enter into this Agreement and the Lenders are severally, and not jointly, willing to extend such credit to the Borrower subject to the
terms and conditions hereinafter set forth.

In consideration of the premises
and the covenants and agreements contained herein, the parties hereto agree as follows:

Article

DEFINITIONS; CERTAIN TERMS

Section 1.1. Definitions.
As used in this Agreement, the following terms shall have the respective meanings indicated below:

“ABL Facility”
means a revolving credit facility or other asset-based lending facility entered into by one or more of the Loan Parties, provided that:

(a) the
terms, conditions, covenants and documentation of such ABL Facility (including, without limitation, an intercreditor agreement among the
administrative agent, the collateral agent, and the lenders under the ABL Facility and the Agents, and an amendment to this Agreement),
shall each be in form and substance satisfactory to the Agents in their reasonable discretion; and

(b) all
or a portion of the proceeds of such ABL Facility will be used to immediately prepay the Obligations under this Agreement in accordance
with the terms set forth in Section 2.5(c)(vii), and no ABL Facility shall be incurred unless and until such prepayment has been (or concurrently
will be) made.

“Account”
has the meaning specified therefor in the UCC.

“Account Debtor”
means, with respect to any Person, each debtor, customer or obligor in any way obligated on or in connection with any Account of such
Person.

“ACP” has
the meaning specified therefor in the preamble to this Agreement.

“Acquisition”
means the acquisition (whether by means of a merger, consolidation or otherwise) of all of the Equity Interests of any Person or all or
substantially all of the assets of any Person or any division or business line of any other Person.

“Action”
has the meaning specified therefor in Section 11.12.

“Administrative Agent”
has the meaning specified therefor in the preamble to this Agreement.

“Administrative Agent’s
Account” means an account at a bank designated by the Administrative Agent from time to time as the account into which the Loan
Parties shall make all payments to the Administrative Agent for the benefit of the Agents and the Lenders under this Agreement and the
other Loan Documents.