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

Chunk 18 of 68
Word Count: 1474
Character Count: 9557

Document Content:

or account managed by such Person or an Affiliate of such Person. “Related Parties” means, with respect to any Person, such Person’s Affiliates and the direct and indirect equityholders, partners, directors, officers, employees, agents, consultants, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. “Release” means any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, seeping, migrating, dumping or disposing of any Hazardous Material (including the abandonment or discarding of barrels, containers and other closed receptacles containing any Hazardous Material) into the indoor or outdoor environment, including, without limitation, the movement of Hazardous Materials through or in the ambient air, soil, surface or ground water, or property. “Relevant Governmental Body” means the Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board or the Federal Reserve Bank of New York, or any successor thereto.

“Remedial
Action” means any action (a) to correct or address any actual, alleged or threatened non-compliance with any Environmental
Law or Environmental Permit, or (b) to clean up, remove, remediate, contain, treat, monitor, assess, evaluate, investigate, prevent,
minimize or in any other way address any environmental condition or the presence, Release or threatened Release of any Hazardous Material
(including the performance of pre-remedial studies and investigations and post-remedial operation and maintenance activities).

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

“Report”
has the meaning specified therefor in Section 9.13(a).

“Reportable
Event” means an event described in Section 4043 of ERISA (other than an event not subject to the provision for 30-day notice
to the PBGC under the regulations promulgated under such Section).

“Required
Lenders” means Lenders whose Pro Rata Shares (calculated in accordance with clause (b) of the definition thereof) aggregate
at least 50.1%.

“Requirements
of Law” means, with respect to any Person, collectively, the common law and all federal, state, provincial, local, foreign,
multinational or international laws, statutes, codes, treaties, standards, rules and regulations, guidelines, ordinances, orders, judgments,
writs, injunctions, decrees (including administrative or judicial precedents or authorities), and the interpretation or administration
thereof by, and other determinations, directives, requirements or requests of any Governmental Authority, in each case that are applicable
to or binding upon such Person or any of its property or to which such Person or any of its property is subject.

“Resignation
Effective Date” has the meaning specified therefor in Section 9.7(a).

“Restricted
Payment” means (a) the declaration or payment of any dividend or other distribution, direct or indirect, on account of any
Equity Interests of any Loan Party or any of its Subsidiaries, now or hereafter outstanding, together with any payment or distribution
pursuant to a “plan of division” under the Delaware Limited Liability Company Act or any comparable transaction under any
similar law, (b) the making of any repurchase, redemption, retirement, defeasance, sinking fund or similar payment, purchase or other
acquisition for value, direct or indirect, of any Equity Interests of any Loan Party or any direct or indirect parent of any Loan Party,
now or hereafter outstanding, (c) the making of any payment to retire, or to obtain the surrender of, any outstanding warrants, options
or other rights for the purchase or acquisition of shares of any class of Equity Interests of any Loan Party, now or hereafter outstanding,
(d) the return of any Equity Interests to any shareholders or other equity holders of any Loan Party or any of its Subsidiaries, or make
any other distribution of property, assets, shares of Equity Interests, warrants, rights, options, obligations or securities thereto
as such, or (e) the payment of any management, consulting, monitoring or advisory fees or any other fees or expenses (including the reimbursement
thereof by any Loan Party or any of its Subsidiaries) pursuant to any management, consulting, monitoring, advisory or other services
agreement to any of the shareholders or other equityholders of any Loan Party or any of its Subsidiaries or other Affiliates, or to any
other Subsidiaries or Affiliates of any Loan Party.

“Sale
and Leaseback Transaction” means, with respect to the Borrower or any of its Subsidiaries, any arrangement, directly or indirectly,
with any Person whereby the Borrower or any of its Subsidiaries shall sell or transfer any property used or useful in its business, whether
now owned or hereafter acquired, and thereafter rent or lease such property or other property that it intends to use for substantially
the same purpose or purposes as the property being sold or transferred.

“Sanctioned
Country” means, at any time, a country or territory that is the subject or target of any Sanctions that broadly prohibit dealings
with that country or territory (which, as of the Effective Date, include Crimea, Cuba, Iran, North Korea, Sudan and Syria).

“Sanctioned
Person” means, at any time, (a) any Person listed in OFAC’s Specially Designated Nationals and Blocked Persons List,
OFAC’s Sectoral Sanctions Identification List, and any other Sanctions-related list of designated Persons maintained by OFAC, the
U.S. Department of State, the United Nations Security Council, the European Union, Her Majesty’s Treasury of the United Kingdom,
Germany, Canada, Australia, or other relevant sanctions authority, (b) a Person that resides in, is organized in or located in, or has
a place of business in, a country or territory named on any list referred to in clause (a) of this definition or a country or territory
that is designated as a “Non-Cooperative Jurisdiction” by the Financial Action Task Force on Money Laundering, or whose subscription
funds are transferred from or through any such jurisdiction (each of the foregoing in this clause (b), a “Sanction Target”),
or a Person that owns 50% or more of the Equity Interests of, or is otherwise controlled by, or is acting on behalf of, one or more Sanction
Targets, (c) any Person with whom or with which a U.S. Person is prohibited from dealing under any of the Sanctions or (d) any Person
owned or controlled by any Person or Persons described in clause (a) or (b).

“Sanctions”
means Requirements of Law concerning or relating to economic or financial sanctions or trade embargoes imposed, administered or enforced
from time to time by OFAC, the U.S. Department of State, the European Union or Her Majesty’s Treasury of the United Kingdom.

“Sanction
Target” has the meaning specified therefor in the definition of “Sanctioned Person”.

“Sanders
Notes” means (a) those certain Senior Subordinated Debentures, dated as of March 8, 2022, issued by the Borrower to certain
clients of Don A. Sanders, as noteholders, in the original aggregate principal amount of $6,000,000, (b) that certain promissory note,
dated as of February 10, 2022, issued by the Borrower in favor of Don A. Sanders, in the original principal amount of $2,000,000.

“Sanders
Notes Interest Payment Conditions” means, with respect to any payment of interest on any Sanders Note, the satisfaction of
the following conditions:

of the date of any such interest payment and immediately after giving effect thereto, no Default or Event of Default has occurred and
is continuing;

(b) Liquidity
(prior to and after giving effect to such payment) shall not be less than $2,000,000;

(c) the
Fixed Charge Coverage Ratio of the Borrower and its Subsidiaries for the period of 12 fiscal months of the Borrower and its Subsidiaries
most recently ended prior to such payment (and, for the avoidance of doubt, without giving effect to such payment for purposes of determining
Consolidated Net Interest Expense), shall be not less than 1.20 to 1.00; and

(d) the
Borrower shall have made principal reduction payments with respect to the Obligations from and after the Second Amendment Effective Date
in an aggregate amount not less than $700,000; and

the Administrative Agent shall have received a certificate of an Authorized Officer of the Borrower certifying as to compliance with
the preceding clauses and demonstrating (in reasonable detail) the calculation required thereby.

“Sanders
Notes Principal Payment Conditions” means, with respect to any payment or prepayment of principal on any Sanders Note, the
satisfaction of the following conditions:

of the date of any such principal payment and immediately after giving effect thereto, no Default or Event of Default has occurred and
is continuing;

(b) Liquidity
(prior to and after giving effect to such payment) shall not be less than $4,000,000;

(c) the
Fixed Charge Coverage Ratio of the Borrower and its Subsidiaries for the period of 12 fiscal months of the Borrower and its Subsidiaries
most recently ended prior to such payment (and, for the avoidance of doubt, without giving effect to such payment for purposes of determining
Consolidated Net Interest Expense), shall be not less than 1.20 to 1.00;

(d) the
Consolidated Senior Net Leverage Ratio of the Borrower and its Subsidiaries as of the end of such fiscal quarter of the Borrower ending
on or most recently preceding the date of such payment or prepayment was less than 2.75 to 1.00;