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 other Canadian federal or provincial legislation with respect to pension benefit standards, which is or was sponsored, administered or contributed to, or required to be contributed to, by any obligated party or under which any obligated party has any actual or potential liability, including, without limitation, a Canadian Defined Benefit Pension Plan, but does not include the Canada Pension Plan or the Quebec Pension Plan as maintained by the Government of Canada or the Province of Quebec, respectively. “Canadian Security Documents” means, collectively, the Canadian form of (i) Guaranty from the Canadian Guarantors, (ii) Security Agreement from the Canadian Guarantors and any Loan Parties with Collateral in Canada as determined by the Agents and (iii) Intellectual Property Security Agreement from the Canadian Guarantors and any Loan Parties with Registered Intellectual Property in Canada with CIPO as determined by the Agents, each in form and substance satisfactory to the Agents.

“Capital Expenditures”
means, with respect to any Person for any period, the sum of (a) the aggregate of all expenditures by such Person and its Subsidiaries
during such period that in accordance with GAAP are or should be included in “property, plant and equipment” or in a similar
fixed asset account on its balance sheet, whether such expenditures are paid in cash or financed, including all Capitalized Lease Obligations,
obligations under synthetic leases and capitalized software costs that are paid or due and payable during such period and (b) to the extent
not covered by clause (a) above, the aggregate of all expenditures by such Person and its Subsidiaries during such period to acquire by
purchase or otherwise the business or fixed assets of, or the Equity Interests of, any other Person; provided that the term “Capital
Expenditures” shall not include any such expenditures which constitute (i) expenditures by a Loan Party made in connection with
the acquisition, replacement, substitution or restoration of such Loan Party’s assets pursuant to Section 2.5(c)(vi) from the Net
Cash Proceeds of Dispositions and Extraordinary Receipts consisting of insurance proceeds or condemnation awards, (ii) expenditures financed
with the proceeds received from the sale or issuance of Equity Interests so long as (A) the Borrower is not required to make a prepayment
of the Loans with such proceeds pursuant to Section 2.5(c)(iii) and (B) such proceeds are not commingled with any Loan Party’s funds
and are deposited in an account subject to a Control Agreement and used exclusively to fund such expenditures, (iii) [reserved], (iv)
expenditures that are accounted for as capital expenditures of such Person and that actually are paid for by a third party (excluding
any Loan Party) and for which no Loan Party has provided or is required to provide or incur, directly or indirectly, any consideration
or obligation to such third party or any other person (whether before, during or after such period), and (v) the purchase price of equipment
that is purchased substantially contemporaneously with the trade in of existing equipment to the extent that the gross amount of such
purchase price is reduced by the credit granted by the seller of such equipment for the equipment being traded in at such time.

“Capitalized Lease”
means, with respect to any Person, any lease of (or other arrangement conveying the right to use) real or personal property by such Person
as lessee that is required under GAAP to be capitalized on the balance sheet of such Person.

“Capitalized Lease
Obligations” means, with respect to any Person, obligations of such Person and its Subsidiaries under Capitalized Leases, and,
for purposes hereof, the amount of any such obligation shall be the capitalized amount thereof determined in accordance with GAAP.

“Cash Equivalents”
means (a) marketable direct obligations issued or unconditionally guaranteed by the United States Government or issued by any agency thereof
and backed by the full faith and credit of the United States, in each case, maturing within six months from the date of acquisition thereof;
(b) commercial paper, maturing not more than one year after the date of issue rated P 1 by Moody’s or A 1 by Standard & Poor’s;
(c) certificates of deposit maturing not more than one year after the date of issue, issued by commercial banking institutions and money
market or demand deposit accounts maintained at commercial banking institutions, each of which is a member of the Federal Reserve System
and has a combined capital and surplus and undivided profits of not less than $500,000,000; (d) repurchase agreements entered into with
major money center banks included in the commercial banking institutions described in clause (c) above and which are secured by readily
marketable direct obligations of the United States Government or any agency thereof; (e) money market accounts maintained with mutual
funds having assets in excess of $2,500,000,000, which assets are primarily comprised of Cash Equivalents described in another clause
of this definition; (f) marketable Tax exempt securities rated A or higher by Moody’s or A+ or higher by Standard & Poor’s,
in each case, maturing within one year from the date of acquisition thereof; and (g) in the case of any Canadian Guarantor, cash and cash
equivalents that are substantially equivalent in such jurisdiction to those described in clauses (a) through (f) above in respect of each
country that is a member of the Organization for Economic Co-operation and Development.

“Change in Law”
means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation,
judicial ruling, judgment or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation
or application thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether
or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (i) the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection
therewith and (ii) all requests, rules, guidelines or directives concerning capital adequacy promulgated by the Bank for International
Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory
authorities shall, in each case, be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued.

“Change of Control”
means each occurrence of any of the following:

(a) [reserved];

(b) the
acquisition, directly or indirectly, by any person or group (within the meaning of Section 13(d)(3) of the Exchange Act) (other than Mr.
Jack Ross) of beneficial ownership of more than 30% of the aggregate outstanding voting or economic power of the Equity Interests of the
Borrower;

(c) during
any period of 24 consecutive months, individuals who at the beginning of such period constituted the Board of Directors of the Borrower
(together with any new directors whose election by such Board of Directors or whose nomination for election by the shareholders of the
Borrower was approved by, or subsequently ratified by, a vote of at least a majority of the directors of the Borrower then still in office
who were either directors at the beginning of such period, or whose election or nomination for election was previously approved) cease
for any reason to constitute a majority of the Board of Directors of the Borrower;

(d) the
Borrower shall cease to have beneficial ownership (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 100% of
the aggregate voting and economic power of the Equity Interests of each other Loan Party and each of its Subsidiaries (other than in connection
with any transaction permitted pursuant to Section 7.2(c)), free and clear of all Liens (other than Permitted Specified Liens); or

“Change of Control” (or any comparable term or provision) under or with respect to any Material Indebtedness of the Borrower
or any of its Subsidiaries.

“CIP Regulations”
has the meaning specified therefor in Section 9.10.

“CIPO” means
Canadian Intellectual Property Office.

“Collateral”
means all of the property and assets and all interests therein and proceeds thereof now owned or hereafter acquired by any Person upon
which a Lien is granted or purported to be granted by such Person as security for all or any part of the Obligations; provided that and
for the avoidance of doubt, “Collateral” shall not include property and assets specifically excluded from such definition
in the Security Agreement.

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

“Collateral Documents”
has the meaning specified therefor in Section 11.2(b)(iii).

“Collections”
means all cash, checks, notes, instruments, and other items of payment (including insurance proceeds, proceeds of cash sales, rental proceeds,
and Tax refunds).

“Commitments”
means, with respect to each Lender, such Lender’s Initial Term Loan Commitment, Delayed Draw Term Loan Commitment and any Incremental
Term Loan Commitment.

“Commodity Exchange
Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute.