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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the consummation of such Permitted Acquisition in any manner that is adverse to the interests of the Agent. “Permitted Liens” means: Liens securing the Obligations; (b) Liens for Taxes, assessments and governmental charges the payment of which is not required under Section 7.1(c)(ii); (c) Liens imposed by law, such as carriers’, warehousemen’s, mechanics’, materialmen’s and other similar Liens arising in the ordinary course of business and securing obligations (other than Indebtedness for borrowed money) that are not overdue by more than 30 days or are being contested in good faith and by appropriate proceedings promptly initiated and diligently conducted, and a reserve or other appropriate provision, if any, as shall be required by GAAP shall have been made therefor; (d) Liens described on Schedule 7.2(a), provided that any such Lien shall only secure the Indebtedness that it secures on the Effective Date and any Permitted Refinancing Indebtedness in respect thereof;

(e) purchase
money Liens on equipment acquired or held by any Loan Party or any of its Subsidiaries in the ordinary course of its business to secure
Permitted Purchase Money Indebtedness so long as such Lien only (i) attaches to such property and (ii) secures the Indebtedness that
was incurred to acquire such property or any Permitted Refinancing Indebtedness in respect thereof;

(f) deposits
and pledges of cash securing (i) obligations incurred in respect of workers’ compensation, unemployment insurance or other forms
of governmental insurance or benefits, (ii) the performance of bids, tenders, leases, contracts (other than for the payment of money)
and statutory obligations, or (iii) obligations on surety or appeal bonds, but only to the extent such deposits or pledges are made or
otherwise arise in the ordinary course of business and secure obligations not past due;

(g) with
respect to any Facility, easements, zoning restrictions and similar encumbrances on real property and minor irregularities in the title
thereto that do not (i) secure obligations for the payment of money or (ii) materially impair the value of such property or its use by
any Loan Party or any of its Subsidiaries in the normal conduct of such Person’s business;

(h) Liens
of landlords and mortgagees of landlords (i) arising by statute or under any Lease or related Contractual Obligation entered into in
the ordinary course of business, (ii) on fixtures and movable tangible property located on the real property leased or subleased from
such landlord or (iii) for amounts not yet due or that are being contested in good faith by appropriate proceedings diligently conducted
and for which adequate reserves or other appropriate provisions are maintained on the books of such Person in accordance with GAAP;

(i) the
title and interest of a lessor or sublessor in and to personal property leased or subleased (other than through a Capitalized Lease),
in each case extending only to such personal property;

(j) non-exclusive
licenses of Intellectual Property rights in the ordinary course of business;

(k) judgment
liens (other than for the payment of Taxes, assessments or other governmental charges) securing judgments and other proceedings not constituting
an Event of Default under Section 8.1(j);

(l) rights
of set-off or bankers’ liens upon deposits of cash in favor of banks or other depository institutions, solely to the extent incurred
in connection with the maintenance of such deposit accounts in the ordinary course of business;

(m) Liens
granted in the ordinary course of business on the unearned portion of insurance premiums securing the financing of insurance premiums
to the extent the financing is permitted under the definition of “Permitted Indebtedness”;

(n) Liens
securing Indebtedness permitted by clause (l) of the definition of “Permitted Indebtedness”, provided that such Liens shall
be subject to an intercreditor agreement and other documentation satisfactory in form and substance to the Agents in their sole discretion;

[reserved];

(p) other
Liens which do not secure Indebtedness for borrowed money or letters of credit and as to which the aggregate amount of the obligations
secured thereby does not exceed $250,000;

(q) Liens
solely on any cash earnest money deposits made by a Loan Party in connection with any letter of intent or purchase agreement with respect
to a Permitted Acquisition in an amount not to exceed five percent (5%) of the purchase price of such Permitted Acquisition; and

(r) Liens
assumed by any Loan Party in connection with a Permitted Acquisition that secure Indebtedness of a Person whose assets or Equity Interests
are acquired by a Loan Party in a Permitted Acquisition which Indebtedness is permitted under clause (p) of the definition of “Permitted
Indebtedness”.

“Permitted
Purchase Money Indebtedness” means, as of any date of determination, Indebtedness (other than the Obligations, but including
Capitalized Lease Obligations) incurred to finance the acquisition of any fixed assets secured by a Lien permitted under clause (e) of
the definition of “Permitted Liens”; provided that (a) such Indebtedness is incurred within 30 days after such acquisition,
(b) such Indebtedness when incurred shall not exceed the purchase price of the asset financed and (c) the aggregate principal amount
of all such Indebtedness shall not exceed $200,000 at any time outstanding.

“Permitted
Refinancing Indebtedness” means the extension of maturity, refinancing or modification of the terms of Indebtedness so long

(a) after
giving effect to such extension, refinancing or modification, the amount of such Indebtedness is not greater than the amount of Indebtedness
outstanding immediately prior to such extension, refinancing or modification;

(b) such
extension, refinancing or modification does not result in a shortening of the average weighted maturity (measured as of the extension,
refinancing or modification) of the Indebtedness so extended, refinanced or modified;

(c) such
extension, refinancing or modification is pursuant to terms that are not less favorable to the Loan Parties and the Lenders than the
terms of the Indebtedness (including, without limitation, terms relating to the collateral (if any) and subordination (if any)) being
extended, refinanced or modified; and

(d) the
Indebtedness that is extended, refinanced or modified is not recourse to any Loan Party or any of its Subsidiaries that is liable on
account of the obligations other than those Persons which were obligated with respect to the Indebtedness that was refinanced, renewed
or extended.

“Permitted
Restricted Payments” means any of the following Restricted Payments made by:

any Subsidiary of the Borrower to the Borrower;

(b) fees
paid by the Borrower to independent directors in an aggregate amount in any Fiscal Year not to exceed $250,000, provided such directors’
fees are customary and reasonable for directors in a similar business to the Permitted Business;

(c) bonuses
paid or other comparable payments made by the Borrower to the Borrower’s officers and members of management by the Borrower in
amounts materially consistent with the past compensation practice of the Borrower and customary and reasonable for officers and members
of management in a business similar to the Permitted Business;

(d) any
compensation paid, directly or indirectly, to any one Person pursuant to any employment agreements, consulting services contracts (including
the Consulting Services Agreement), management services contracts, labor services contracts or similar agreements or arrangements for
the services of such Person (whether pursuant to one agreement or multiple agreements) as approved by the Board of Directors, in such
amounts as approved by the Board of Directors, provided that the amount of such compensation paid in cash shall not exceed $1,000,000
for any Fiscal Year; and

the Borrower to pay dividends in the form of Qualified Equity Interests.;
and

the Borrower with respect to issuance of the Lender Warrant.

“Permitted
Specified Liens” means Permitted Liens described in clauses (a), (b) and (c) of the definition of “Permitted Liens”,
and, solely in the case of Section 7.1(b)(i), including clauses (g), (h) and (i) of the definition of “Permitted Liens”.

“Person”
means an individual, corporation, limited liability company, partnership, association, joint-stock company, trust, unincorporated organization,
joint venture or other enterprise or entity or Governmental Authority.

“Pledged
Promissory Note” means that certain Amended and Restated Promissory Note, dated August 28, 2024, made by Boombod Ltd., a UK
Corporation, to the order of the Borrower, in the original principal amount of $4,424,547.

“Post-Default
Rate” means a rate of interest per annum equal to the rate of interest otherwise in effect from time to time pursuant to the
terms of this Agreement plus 2.0%, or, if a rate of interest is not otherwise in effect, interest at the highest rate specified herein
for any Loan then outstanding prior to an Event of Default plus 2.0%.

“PPSA”
shall mean the Personal Property Security Act (or any successor statutes) as the same may, from time to time, be in effect in
the Province of Ontario or a similar act or statute as in effect in such other jurisdiction in Canada for purposes of the provisions
of this Agreement.

“Pro
Rata Share” means, with respect to: