Where God's grace runs out

Tell me - does Gods grace run out? And if so - how? can you outline what disqualifies grace? And how long must one "participate" in the disqualifying act in order to be ...well ... Disqualified? These are big questions. But I believe there is a simple answer: 

"It is because of the Lord’s mercy and loving-kindness that we are not consumed, because His [tender] compassions fail not.They are new every morning; great and abundant is Your stability and faithfulness" (Lamentations 3:22-23,amp) 

Thank God. His mercy is all about Him and Not about us.