@Alberto M office365 will give you this error message if you break one of the following two limits:
30 messages per minute
Recipient rate limit of 10,000 recipients per day
https://docs.microsoft.com/en-us/office365/servicedescriptions/exchange-online-service-description/exchange-online-limits#receiving-and-sending-limits
The bottleneck here is office 365 and unfortunately as we relay mail through them for you there is nothing that hornbill can do to bend this limit.
What exactly is causing these big spikes? If it's some kind of monitoring system that sends a flurry of emails you could move this to send from another mailbox rather then office 365.