If you do nothing special the Timing object will add itself to a new object named “Timing Controller”. All of the coroutine processes will normally be handed out by that instance.
However, if you want more control over things you can attach the Timing object to one of the GameObjects in your scene yourself. You could even create more than one Timing object if you like and add different coroutines to different objects. The functions for Timing.RunCoroutine() are static so they can be accessed from anywhere, but if you have a handle to an instance of the Timing object then you can call yourTimingInstance.RunCoroutineOnInstance() to run the coroutine on that instance. By creating multiple instances of the Timing object you can effectively create groups of processes that can all be paused or destroyed together.
The OnError delegate and the TimeBetweenSlowUpdateCalls variable are also attached to the Timing instance, so you can set different error handling for different timing objects or you can set SlowUpdate to run at a different rate.