As of October 31, 2021 and 2020, there was $28.0 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 14. “Debt and

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

(1)	Letters of credit outstanding as of October 31, 2021 expire on various dates through August 2028.

(2)

Long and short-term reserve that is to be used primarily to fund future module exchanges for operating projects falling under the PNC sale leaseback obligations. The decrease in restricted cash at October 31, 2021 compared to October 31, 2020 is a result of the Company’s performance in completing certain module exchanges resulting in cash being unrestricted.

(3)

Long and short-term reserve that is to be used primarily to fund future module exchanges and other performance obligations. The increase in restricted cash at October 31, 2021 compared to October 31, 2020 is a result of additional cash reserved for the San Bernardino sale-leaseback transaction with Crestmark which was entered into on August 25, 2021.

(4)	Long and short-term reserves for the Bridgeport Fuel Cell Park Project to fund future module exchanges and other performance requirements.

(5)	Reserves relating to the Orion Facility were released upon the repayment of the Orion Facility.

(6)	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.