[The atonement] secured for those for whom it was made: 1) A proper judicial standing through justification. This includes the forgiveness of sin, the adoption of children, and the right to an eternal inheritance. 2) The mystical union of believers with Christ through regeneration and sanctification. This comprises the gradual mortification of the old man, and the gradual putting on of the new man created in Christ Jesus. 3) Their final bliss in communion with God through Jesus Christ, in subjective glorification, and in the enjoyment of eternal life in a new and perfect creation. All this clearly obviates the objection so often raised against the penal substitutionary doctrine of the atonement, namely, that it has no ethical bearings and offers no basis for the ethical life of the redeemed. It may even be said that it is the only doctrine of the atonement that offers a secure basis for a real ethical life, a life that is rooted in the heart through the operation of the Holy Spirit. Justification leads right on to sanctification.
... It may be laid down, first of all, as a general principle, that the designs of God are always surely efficacious and cannot be frustrated by the actions of man. This applies also to the purpose of saving men through the death of our Lord Jesus Christ. If it had been His intention to save all men, this purpose could not have been frustrated by the unbelief of man. It is admitted on all hands that only a limited number is saved. Consequently, they are the only ones whom God has determined to save.
... The sacrifical work of Christ and His intercessory work are simply two different aspects of His atoning work, and therefore the scope of the one can be no wider than that of the other. Now Christ very definitely limits His intercessory work, when He says: "I pray not for the world, but for those whom thou hast given me." John 17:9. Why should He limit His intercessory prayer, if He had actually paid the price for all?
... And if the assertion be made that the design of God and of Christ was evidently conditional, contingent on the faith and obedience of man, attention should be called to the fact that the Bible clearly teaches that Christ by His death purchased faith, repentance, and all the other effects of the work of the Holy Spirit, for His people. Consequently there are no conditions on which the fulfillment is simply dependent on the will of man. The atonement also secures the fulfillment of the conditions that must be met, in order to obtain salvation, Rom. 2:4; Gal. 3:13,14; Eph. 1:3,4; 2:8; Phil. 1:29; II Tim. 3:5,6.
... We believe that God "unfeignedly," that is, sincerely or in good faith, calls all those who are living under the gospel to believe, and offers them salvation in the way of faith and repentance. Now the Arminians maintain that such an offer of salvation cannot be made by those who believe that Christ died only for the elect. ... The following remarks may be made in reply: (a) The offer of salvation in the way of faith and repentance does not pretend to be a revelation of the secret counsel of God, more specifically, of His design in giving Christ as an atonement for sin. It is simply the promise of salvation to all those who accept Christ by faith. (2) This offer, in so far as it is universal, is always conditioned by faith and conversion. Moreover, it is contingent on a faith and repentance such as can only be wrought in the heart of man by the operation of the Holy Spirit. (3) The universal offer of salvation does not consist in the declaration that Christ made atonement for every man that hears the gospel, and that God really intends to save each one. It consists in (a) an exposition of the atoning work of Christ as in itself sufficient for the redemption of all men; (b) a description of the real nature of the repentance and faith that are required in coming to Christ; and (c) a declaration that each one who comes to Christ with true repentance and faith will obtain the blessings of salvation. (4) It is not the duty of the preacher to harmonize the secret counsel of God respecting the redemption of sinners with His declarative will as expressed in the universal offer of salvation. He is simply an official ambassador, whose duty it is to carry out the will of the Lord in preaching the gospel to all men indiscriminately. ...
(Berkhof, Systematic Theology, Banner of Truth, pp. 392-398)
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