Question regarding the Storefront API rate limit

Hello,
I have a question about the rate limit regarding the Storefront Api:
In the documentation it says: “minimum 0.5s per requests, 60s per User IP”, so a client has a total time allocation of 60s, correct? My question is, what period of time does the 60s refer to exactly? For example, does a client have 60s per day, or when is the time left going to be reset to 60s again?

Thanks,

Jan