Class

In the context of securities, classes of shares stratify packages of rights, including any combination of voting rights, rights to dividend payments and economic entitlements in the case of a wind-up.

In the context of debt transactions, lenders hold a particular Class or Tranche under a Credit Agreement. For example, a group of lenders providing Senior Debt are referred to as the “senior class” and mezzanine lenders as the “mezzanine class.”