1) [Heppe’s summary:] 28.-But of course it still holds that not for all men did Christ secure satisfaction and merit the imparting of the H. Spirit, but only for those for whom he interceded as surety with the Father’s consent. Although Christ died sufficienter for all men, and although Christ’s obedience and suffering are so absolutely perfect that for this satisfaction the Father might have forgiven the sins of the whole human race, the merit of Christ can really hold efficaciter only for those whom the Father has given him, for whom the Father has accepted the dedication and surety of the Son, and for whom Christ in accordance with his own intention was ready to die and did die.
OLEVIAN (pp. 67-68): The sacrifice of Christ, so perfect in itself is, both by the eternal counsel of God and by the high-priestly intercession of Christ himself appointed only for those whom the Son of God has awakened to faith; sacrifice and intercession belong to each other. Hence although Christ has suffered sufficenter for all, he has done so efficaciter only for the elect. Had he also prayed for the rejected and sacrificed himself for them, they too would have had to be blessed and roused by the H. Spirit to faith (p. 69): “He offered himself for those whom he knew the Father had given him, but never by chance or accident–as some imagine that the grace of sacrifice has been scattered in the air, in order that he who would might snatch it for himself.” Heinrich Heppe, Reformed Dogmatics, 475-476
2) That the satisfaction of Christ would be sufficient to atone for sin-guilt in all men, if the Father would let it benefit them all, is generally recognized. CF., e.g., RISSEN (XII, 11): “…the satisfaction of Christ might be said to be sufficient for the sins of one and all, if so it had seemed good to God; for since it was of infinite value, it was quite sufficient for the redemption of one and all, if it had seemed good to God to extend it to the whole world. And here belongs a distinction used by the Fathers and retained by various theologians, that Christ died sufficiently for all, but effectually only for the elect; which phrase, understood of the worthiness of Christ’s death, is very true, although it is less accurate if referred to the will and counsel of Christ.1 For the Son gave himself to death, not with the purpose and intention of acting personal substitute. in the room of one and all, to give satisfaction for them and secure them salvation; but for the elect only, who were given him by the Father to be redeemed and whose head he was to be, he was wiling to give himself up.” Heinrich Heppe, Reformed Dogmatics, 477-478.