; or (ii) if the amount is equal to $5,000,000 or more, in accordance with applicable reclamation laws; (C) provide that power revenues will not be available to aid in repayment of construction costs allocated to irrigation under the contract; and (D) continue in effect for the period during which the contractor pays applicable charges, in accordance with section 9(d) of the Act of August 4, 1939 (53 Stat. 1195, chapter 418), and other applicable law. (3) Covered contract requirements (A) Definition of covered contract In this paragraph: (i) In general The term covered contract means— (I) on request of the contractor, a repayment contract under subsection (c)(1) of section 9 of the Act of August 4, 1939 (53 Stat. 1193, chapter 418), that is in effect on the date of enactment of this Act; and (II) a contract converted pursuant to paragraph (1)(B). (ii) Exclusion The term covered contract does not include a repayment contract under which the contractor has previously negotiated for prepayment. (B) Requirements Each covered contract shall— (i) provide for the repayment, in lump sum, of the remaining construction costs identified in water project-specific irrigation rate repayment schedules, as adjusted to reflect payments not reflected in those schedules, and properly assignable for ultimate return by the contractor, subject to the condition that the contractor shall submit to the Secretary an estimate of any remaining construction costs, as adjusted, by not later than 90 days after the date of submission of the initial request of the contractor