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Restricted Cash

6 Months Ended

Apr. 30, 2021

Restricted Cash And Investments [Abstract]

Note 15. Restricted Cash

As of April 30, 2021 and October 31, 2020, there was $32.1 million and $42.2 million, respectively, of restricted cash and cash equivalents pledged as performance security, reserved for future debt service requirements, reserved for letters of credit for certain banking requirements and contracts, and reserved to pay down the Orion Facility or be redeployed into other project financing at the option of the Orion Agent and the lenders under the Orion Facility. Refer to Note 16. “Debt”

for additional information on the release of the restricted cash under the Orion Facility. The allocation of restricted cash is as follows (in thousands):


	April 30,		October 31,
	2021		2020
Cash Restricted for Outstanding Letters of Credit ⁽¹⁾	$	6,478	$	6,543
Cash Restricted for PNC Sale-Leaseback Transactions		14,989		15,125
Cash Restricted for Crestmark Sale-Leaseback Transaction		432		431
Bridgeport Fuel Cell Park Project Debt Service and Performance Reserves		9,668		7,549
Orion Facility - Performance Reserve ⁽²⁾		—		5,000
Orion Facility - Module and Debt Service Reserves ⁽³⁾		—		1,950
Orion Facility - Project Proceeds Account ⁽⁴⁾		—		4,243
Other		529		1,344
Total Restricted Cash		32,096		42,185
Restricted Cash and Cash Equivalents - Short-Term ⁽⁵⁾		(17,427)		(9,233)
Restricted Cash and Cash Equivalents - Long-Term	$	14,669	$	32,952

(1)	Letters of credit outstanding as of April 30, 2021 expire on various dates through August 2028.

(2)	Short-term reserve that was related to certain project construction and financing milestones.

(3)	Long-term reserve that was to be used primarily to fund future module exchanges for operating projects falling under the collateral pool (CCSU and Triangle Street) under the Orion Facility.

(4)	Reserve that was related to proceeds received from project refinancing that was to be used to pay-down the Orion Facility unless redeployed into other project financing (at the option of the Orion Agent and the lenders under the Orion Facility).

(5)	Short-term restricted cash and cash equivalents are amounts expected to be released and categorized as unrestricted cash within twelve months of the balance sheet date.