[2:63-4] And when We made a covenant for you, and We raised above you the Mount, 'Take forcefully what We have given you, and remember what is in it so that you might preserve yourselves'. * Then you turned away thereafter, and but for God's bounty and His mercy towards you, you would have been among the losers.
He (s) made a covenant with all responsible beings (mukallafūn), but some responded willingly because He made Himself known to them, so they declared His unity. Other people responded unwillingly because He veiled them, so they did not want to recognize Him. There is no proof more powerful than the eye-witnessing of the Mount (?ūr) He raised above them, which was a mountain (jabal), but they lacked the light of the perceptive faculty (baṣīra) and so the witnessing of physical vision (baṣar) did not benefit them.
Then you turned away thereafter, i.e. you returned to disobedience after witnessing the signs with your own eyes. If not for His decree in granting respite and His forbearance in acts of grace, He would punish you without delay and cause a great misfortune to descend upon you, and your transaction would be entirely a loss.