mod is very closely related to dividing. There are three operators that are related to dividing:
/
div
mod
the '/' operator returns generally a floating point value (decimals) of dividing the left by the right
the 'div' operator (short for divide) returns an integer (no decimals) of dividing the left by the right
the 'mod' operator (short for modulo, or modulus) is different than those two. It is the remainder when you divide two numbers. For example if you try to divide 14 by 3, you know 3 goes into 14 4 times, and there is 2 left over. mod gives you this '2' number.
So when we say Ticks mod (60*60) = 0, we are trying to say "When the remainder of dividing Ticks by 3600 (60*60) is equal to zero"
Every second, Ticks increases by 60 (60 ticks per second). doing (Ticks div 60) mod 60 is equivalent to the previous statement. Aka, we are trying to evaluate TimeInSeconds mod 60 = 0. When we try dividing various numbers by 60, only certain ones will have a remainder of zero: 0, 60, 120, 180, etc. This means every minute, the action is going to occur.