pointwise limit of sequence of Lipschitz continuous functions is Lipschitz continuous $\Rightarrow$ Lipschitz constants bounded?

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A sequence $\{ f_n\}$ of Lipschitz continuous functions (with corresponding Lipschitz constants $M_n$) has pointwise limit $f$ which is also Lipschitz continuous (with Lipschitz constant $M$). Is it true that the sequence $\{ M_n\}$ is bounded? And if not, under what extra assumptions is it true?

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No. Let $f_n(t)=\sin(n^2t)/n$.