A natural topology on the set of germs of holomorphic functions on a compact subset $K$ of a Fréchet space is the locally convex inductive limit topology of the spaces $\mathcal{O}(\sOm)$ endowed with the compact open topology; here $\sOm$ is any open subset containing $K$. Mujica gave a description of this space as the inductive limit of a suitable sequence of compact subsets. He used a set of intricate semi-norms for this. We give a projective characterization of this space, using simpler semi-norms, whose form is similar to the one used in the Whitney Extension Theorem for $C_\infty$ functions. They are quite natural in a framework where extensions are involved. We also give a simple proof that this topology is strictly stronger than the topology of the projective limit of the non-quasi-analytic spaces.

AMS 2000 Mathematics subject classification: Primary 46A13; 46F15