French Net VAT Receivables means the Net VAT Receivables owing to French FleetCo.
French Net VAT Receivables means the Net VAT Receivables owing to French FleetCo. “French On-Going Business Pledge Agreement” means the French convention de nantissement de fonds de commerce entered into between French FleetCo and the French Security Trustee dated on or about the Signing Date. “French OpCo” means Hertz France S.A.S. “French Payment Direction Agreement” means the payment direction agreement entered into by French FleetCo, the French Servicer, the French Account Bank, the FCT Noteholder, the Issuer Administrator, the FCT and the FCT Servicer on or about the Signing Date. “French Percentage” means, as of any date of determination, a fraction, expressed as a percentage, the numerator of which is the French Facility Principal Amount as of such date and the denominator of which is the sum of the Dutch Note Principal Amount, the French Facility Principal Amount, the German Note Principal Amount and the Spanish Note Principal Amount, in each case as of such date. “French Potential Leasing Company Amortization Event” means any occurrence or event that, with the giving of notice, the passage of time or both, would constitute a French Leasing Company Amortization Event. “French Predecessor Administrator Work Product” has the meaning given to it in Sub-Clause 5.4 (Reliance on Prior Work Product) of the French Back-Up Administration Agreement. “French Principal Collections” means any French Collections other than French Interest Collections. “French Priority of Payments” means the priority of payments applicable to the payments owed by French FleetCo under the French Related Documents set out in Sub-Clauses 8.4 (Application of French Interest Collections) and 8.5 (Application of French Principal Collections) of the French Facility Agreement. “French Qualifying Noteholder” means any holder of the FCT Note which, at the time a payment of interest is made on the FCT Note, either: