Psalm 130

“A song of the ascents. Out of the depths do I call on thee, Jehovah. Lord, hear (in) my voice; let thine, pars be attentive to the voice of my supplication. If thou, Jah, shouldest mark iniquities, Lord, who shall stand? But with thee [is] the forgiveness that thou mayest be feared. I wait for Jehovah; my soul waiteth, and for his word I hope. My soul [hopeth] for the Lord, more than watchmen for the morning—watchmen for the morning. Hope, Israel, for (or in) Jehovah, for with Jehovah [is] the mercy, and plenteously with him ransom; and he will ransom Israel from all his iniquities” (vers. 1-8).
It is the new ground of divine mercy, and so of forgiveness for the generation to come.