As of April 30, 2022 and October 31, 2021, there was $21.8 million and $28.0 million, respectively, of restricted cash and cash equivalents pledged as performance security, reserved for future debt service requirements, and reserved for letters of credit for certain banking requirements and contracts. The allocation of restricted cash is as follows (in thousands):

(1)	Letters of credit outstanding as of April 30, 2022 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 April 30, 2022 compared to October 31, 2021 is a result of the Company’s performance in completing certain module replacements, which resulted in cash being categorized as unrestricted.

(3)	Long and short-term reserve that is to be used primarily to fund future module exchanges and other performance obligations.

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

(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.