Is the API Rate Limit per request, or request completion?

My “List Records” calls take about 1 second each to complete (5 fields), which suggests I may be able to make new calls before even receiving the previous ones. If I make 5 API calls and haven’t received them back after 1000ms, does this mean I can make 5 more new calls while still waiting for the old ones? Or does it base it off of request completion, in which I’d either have to wait until all 5 completed, or 1 second after the first one completed? Thanks!

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