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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is a Business Day, the average of the quotations for such day on such transactions received by the Administrative Agent from three federal funds brokers of recognized standing selected by it. “Fee Letter” means the fee letter, dated as of the date hereof, among the Loan Parties and the Agents. “Financial Statements” means (a) the audited consolidated balance sheet of the Borrower and its Subsidiaries for the Fiscal Years ended December 31, 2023 and December 31, 2024, and the related consolidated statement of operations, shareholders’ equity and cash flows for the Fiscal Years then ended, and (b) the unaudited consolidated balance sheet of the Borrower and its Subsidiaries for the three months ended March 31, 2025, and the related consolidated statement of operations, shareholder’s equity and cash flows for such period. “Fiscal Year” means the fiscal year of the Borrower and its Subsidiaries ending on December 31 of each year.

“Fixed Charge Coverage
Ratio” means, with respect to any Person for any period, the ratio of (a) Consolidated Adjusted EBITDA of such Person and its
Subsidiaries for such period minus Capital Expenditures made by such Person and its Subsidiaries during such period not financed with
the proceeds of Equity Interests or Indebtedness, to (b) the sum of (i) all principal of Indebtedness described in clauses (a), (c), (d),
(e) and (f) in the definition thereof of such Person and its Subsidiaries (excluding any Subordinated Indebtedness of such Person and
its Subsidiaries then outstanding) scheduled to be paid or prepaid during such period to the extent there is an equivalent permanent reduction
in the commitments thereunder, plus (ii) Consolidated Net Interest Expense of such Person and its Subsidiaries for such period,
plus (iii) income Taxes paid or payable by such Person and its Subsidiaries during such period, plus (iv) cash dividends
or distributions paid, or the purchase, redemption or other acquisition or retirement for value (including in connection with any merger
or consolidation), by such Person or any of its Subsidiaries, in respect of the Equity Interests of such Person or any of its Subsidiaries
(other than dividends or distributions paid by a Loan Party to any other Loan Party) during such period, plus (v) all management,
consulting, monitoring, and advisory fees paid by such Person or any of its Subsidiaries to any of its Affiliates during such period.

“Flood Insurance Laws”
means (a) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (b) the Flood
Disaster Protection Act of 1973 as now or hereafter in effect or any successor statute thereto, (c) the National Flood Insurance
Reform Act of 1994 (amending 42 USC § 4001, et seq.), as the same may be amended or recodified from time to time,
and (d) the Flood Insurance Reform Act of 2004 and any regulations promulgated thereunder.

“Floor” means

“Foreign Lender”
has the meaning specified therefor in Section 2.9(d)(i)(B).

“Foreign Sovereign
Immunities Act” means the US Foreign Sovereign Immunities Act of 1976 (28 U.S.C. Sections 1602-1611), as amended.

“Foreign Subsidiary”
means any Subsidiary of the Borrower that is not a Domestic Subsidiary.

“Funding Losses”
has the meaning specified therefor in Section 2.8.

“GAAP” means
(a) when used in reference to the Canadian Guarantor, the ASPE in Canada from time to time established by the Canadian Accounting Standards
Board applied on a consistent basis, and (b) when used in any other context, generally accepted accounting principles in effect from time
to time in the United States, applied on a consistent basis, provided that for the purpose of Section 7.3 and the definitions used therein,
“GAAP” shall mean ASPE, or generally accepted accounting principles in the United States, as applicable, in effect on the
date hereof, provided further that if there occurs after the date of this Agreement any change in GAAP that affects in any respect the
calculation of any covenant contained in Section 7.3, the Collateral Agent and the Borrower shall negotiate in good faith amendments to
the provisions of this Agreement that relate to the calculation of such covenant with the intent of having the respective positions of
the Lenders and the Borrower after such change in GAAP conform as nearly as possible to their respective positions as of the date of this
Agreement and, until any such amendments have been agreed upon, the covenants in Section 7.3 shall be calculated as if no such change
in GAAP has occurred.

“Governing Documents”
means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive
documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of
formation or organization, and the operating agreement; (c) with respect to any partnership, joint venture, trust or other form of business
entity, the partnership, joint venture, declaration or other applicable agreement or documentation evidencing or otherwise relating to
its formation or organization, governance and capitalization; and (d) with respect to any of the entities described above, any other agreement,
instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental
Authority in the jurisdiction of its formation or organization.

“Governmental Authority”
means any nation or government, any federal, state, city, town, municipality, county, local or other political subdivision thereof or
thereto and any department, commission, board, bureau, instrumentality, agency or other entity exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the
European Union or the European Central Bank).

“Guaranteed Obligations”
has the meaning specified therefor in Section 10.1.

“Guarantor”
means (a) each Subsidiary of the Borrower listed as a “Guarantor” on the signature pages hereto, and (b) each other Person
which guarantees, pursuant to Section 7.1(b) or otherwise, all or any part of the Obligations.

“Guaranty”
means (a) the guaranty of each Guarantor party hereto contained in Article X and (b) each other guaranty, in form and substance satisfactory
to the Collateral Agent, made by any other Guarantor in favor of the Collateral Agent for the benefit of the Agents and the Lenders guaranteeing
all or part of the Obligations.

“Hazardous Material”
means any element, compound or chemical that is defined, listed or otherwise classified as a contaminant, pollutant, toxic or hazardous
substance, hazardous waste, special waste or solid waste or words of similar import under any Environmental Law or that is otherwise regulated
under or for which liability or standards of care are imposed pursuant to any Environmental Law, including, without limitation, petroleum,
polychlorinated biphenyls; asbestos-containing materials, urea formaldehyde-containing materials radioactive materials and toxic mold.

“Hedging Agreement”
means any interest rate, foreign currency, commodity or equity swap, collar, cap, floor or forward rate agreement, or other agreement
or arrangement designed to protect against fluctuations in interest rates or currency, commodity or equity values (including, without
limitation, any option with respect to any of the foregoing and any combination of the foregoing agreements or arrangements), and any
confirmation executed in connection with any such agreement or arrangement.

“Highest Lawful Rate”
means, with respect to any Agent or any Lender, the maximum non-usurious interest rate, if any, that at any time or from time to time
may be contracted for, taken, reserved, charged or received on the Obligations under laws applicable to such Agent or such Lender which
are currently in effect or, to the extent allowed by law, under such applicable laws which may hereafter be in effect and which allow
a higher maximum non-usurious interest rate than applicable laws now allow.

“Holdout Lender”
has the meaning specified therefor in Section 11.2(c).

“Increased Amount Date”
has the meaning specified therefor in Section 2.13(a).

“Incremental Amendment”
has the meaning specified therefor in Section 2.13(b).

“Incremental Term Loan
Commitment” means the commitment of any Incremental Term Loan Lender to make Incremental Term Loans pursuant to Section 2.13
and as further set forth in any Incremental Amendment, as such commitment may be terminated or reduced from time to time in accordance
with the terms of this Agreement.

“Incremental Term Loan
Lender” means a Lender with an Incremental Term Loan Commitment or an Incremental Term Loan.

“Incremental Term Loans”
means, collectively, the loans made by the Incremental Term Loan Lenders to the Borrower pursuant to Section 2.13 and any Incremental
Amendment.