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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to execute any such agreements, instruments or other documents in such Loan Party’s name and to file such agreements, instruments or other documents in any appropriate filing office, (ii) authorizes each Agent to file any financing statement required hereunder or under any other Loan Document, and any continuation statement or amendment with respect thereto, in any appropriate filing office without the signature of such Loan Party, and (iii) ratifies the filing of any financing statement, and any continuation statement or amendment with respect thereto, filed without the signature of such Loan Party prior to the date hereof. Section 7.2. Negative Covenants. So long as any principal of or interest on any Loan or any other Obligation (whether or not due) shall remain unpaid (other than Contingent Indemnity Obligations) or any Lender shall have any Commitment hereunder, each Loan Party shall not, unless the Required Lenders shall otherwise consent in writing:

(a) Liens,
Etc. Create, incur, assume or suffer to exist, or permit any of its Subsidiaries to create, incur, assume or suffer to exist, any
Lien upon or with respect to any of its properties, whether now owned or hereafter acquired; file or suffer to exist under the Uniform
Commercial Code or any Requirement of Law of any jurisdiction, a financing statement (or the equivalent thereof) that names it or any
of its Subsidiaries as debtor; sign or suffer to exist any security agreement authorizing any secured party thereunder to file such financing
statement (or the equivalent thereof) other than, as to all of the above, Permitted Liens.

(b) Indebtedness.
Create, incur, assume, guarantee or suffer to exist, or otherwise become or remain liable with respect to, or permit any of its Subsidiaries
to create, incur, assume, guarantee or suffer to exist or otherwise become or remain liable with respect to, any Indebtedness other than
Permitted Indebtedness.

(c) Fundamental
Changes; Dispositions.

(i) Wind
up, liquidate or dissolve, or merge, consolidate or amalgamate with any Person, including by means of a “plan of division”
under the Delaware Limited Liability Company Act or any comparable transaction under any similar law, or permit any of its Subsidiaries
to do (or agree to do) any of the foregoing; provided, however, that any wholly-owned Subsidiary of any Loan Party (other than a Borrower)
may be merged into such Loan Party or another wholly-owned Subsidiary of such Loan Party, or may consolidate or amalgamate with another
wholly-owned Subsidiary of such Loan Party, so long as:

other provision of this Agreement would be violated thereby;

(B) such
Loan Party gives the Agents at least thirty (30) days (or such shorter period as the Agents may agree in their sole discretion) prior
written notice of such merger, consolidation or amalgamation accompanied by true, correct and complete copies of all material agreements,
documents and instruments relating to such merger, consolidation or amalgamation, including, without limitation, the certificate or certificates
of merger or amalgamation to be filed with each appropriate Secretary of State (with a copy as filed promptly after such filing);

Default or Event of Default shall have occurred and be continuing either before or after giving effect to such transaction;

(D) the
Lenders’ rights in any Collateral, including, without limitation, the existence, perfection and priority of any Lien thereon, are
not adversely affected by such merger, consolidation or amalgamation; and

(E) the
surviving Subsidiary, if any, if not already a Loan Party, is joined as a Loan Party hereunder pursuant to a Joinder Agreement and is
a party to a Security Agreement and the Equity Interests of such Subsidiary is the subject of a Security Agreement, in each case, which
is in full force and effect on the date of and immediately after giving effect to such merger, consolidation or amalgamation (or such
later date as consented to by the Collateral Agent).

(ii) Make
any Disposition, whether in one transaction or a series of related transactions, of all or any part of its business, property or assets,
whether now owned or hereafter acquired (or agree to do any of the foregoing), or permit any of its Subsidiaries to do any of the foregoing;
provided, however, that any Loan Party and its Subsidiaries may make Permitted Dispositions.

(d) Change
in Nature of Business. Make, or permit any of its Subsidiaries to make, any change in the nature of its business as described in Section

(e) Loans,
Advances, Investments, Etc. Make or commit or agree to make, or permit any of its Subsidiaries make or commit or agree to make, any
Investment in any other Person except for Permitted Investments.

(f) Sale
and Leaseback Transactions. Enter into, or permit any of its Subsidiaries to enter into, any Sale and Leaseback Transaction.

(g) Limitation
on Issuance of Equity Interests; Subsidiaries.

(i) Issue
or sell or enter into any agreement or arrangement for the issuance and sale of, or permit any of its Subsidiaries to issue or sell or
enter into any agreement or arrangement for the issuance and sale of, any Equity Interests, any securities convertible into or exchangeable
for its Equity Interests or any warrants to acquire its Equity Interests; provided that the Loan Parties may issue Qualified Equity Interests
so long as no Change of Control would result therefrom.

(ii) Form
any Subsidiary after the Effective Date unless such Subsidiary (i) is a wholly-owned Subsidiary organized under the laws of the United
States, and (ii) complies with the requirements under Section 7.1(b); provided that the formation of any non-wholly-owned Subsidiary shall
require the prior written consent of the Agents.

(iii) Enter
into, after the Effective Date, any partnership, joint venture or similar arrangement from and after the Effective Date without the prior
written consent of the Agents.

(h) Restricted
Payments. Make or permit any of its Subsidiaries to make any Restricted Payment other than Permitted Restricted Payments.

(i) Federal
Reserve Regulations. Permit any Loan or the proceeds of any Loan under this Agreement to be used for any purpose that would cause
such Loan to be a margin loan under the provisions of Regulation T, U or X of the Board of Governors.

(j) Transactions
with Affiliates. Enter into, renew, extend or be a party to, or permit any of its Subsidiaries to enter into, renew, extend or be
a party to, any transaction or series of related transactions (including, without limitation, the purchase, sale, lease, transfer or exchange
of property or assets of any kind or the rendering of services of any kind) with any Affiliate, except (i) transactions consummated in
the ordinary course of business in a manner and to an extent consistent with past practice and necessary or desirable for the prudent
operation of its business, for fair consideration and on terms no less favorable to it or its Subsidiaries than would be obtainable in
a comparable arm’s length transaction with a Person that is not an Affiliate thereof, and that are fully disclosed to the Agents
prior to the consummation thereof, (ii) transactions with another Loan Party, (iii) transactions permitted by Sections 7.2(e), 7.2(g)
and 7.2(h), (iv) sales of Qualified Equity Interests of the Borrower to Affiliates of the Borrower not otherwise prohibited by the Loan
Documents and the granting of registration and other customary rights in connection therewith, (v) reasonable and customary director and
officer compensation (including bonuses and stock option programs), benefits and indemnification arrangements, in each case approved by
the Board of Directors (or a committee thereof) of such Loan Party or such Subsidiary, and (vi) the transactions with Affiliates existing
on the Effective Date and described on Schedule 7.2(j).

(k) Limitations
on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to
exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i)
to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any
of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to
make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party
or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses
(i) through (iv) of this Section 7.2(k) shall prohibit or restrict compliance with:

(A) this
Agreement and the other Loan Documents;

(B) [reserved];

(C) any
agreement in effect on the date of this Agreement and described on Schedule 7.2(k) hereto, or any extension, replacement or continuation
of any such agreement; provided that, any such encumbrance or restriction contained in such extended, replaced or continued agreement
is no less favorable to the Agents and the Lenders than the encumbrance or restriction under or pursuant to the agreement so extended,
replaced or continued;