Its not type of the wire, that Class 2 on the cable jacket means its suitable for a NEC Art 725 Class 2 circuit. What determines if the 120 volt conductor can be in the same racewith the limited energy (not low voltage) is the type of limited energy circuit it is, this is determined by the power supply. Most are class 2, and see 725.55(A) and forget 300.3(C)(1). If limited energy is a article 725 Class 1 circuit, then it can be with the 120V as a Class 1 circuit is wired using a chapter 3 wiring method.