Transit Coal definition
Transit Coal means coal that was mined or processed at the Shoal Creek Mine that as of the Closing Date is no longer located on the Real Property, including all coal loaded onto barges at the Shoal Creek Mine load out, stockpiled or loaded onto a vessel at the ▇▇▇▇▇▇▇▇ Terminal in Mobile, Alabama, or located anywhere between those two points. For the avoidance of doubt, In-Transit Coal does not include coal for which Seller has invoiced a customer as of the Closing Date or would not otherwise be considered inventory in accordance with GAAP.