From chapter three of Pink's A Guide to Fervent Prayer we are blessed to find the following:
A Prayer for Holiness and Fruitfulness
Prayer, for holiness“The God of peace make you perfect in every good work to do his will.” Substantially, this request is for the practical sanctification and fructification of God's people. While the everlasting covenant has been suitably denominated “the covenant of redemption,” we must carefully bear in mind that it was designed to secure the holiness of its beneficiaries. We do well to reflect upon the prophetic, Spirit-filled cry of Zecharias, that “the Lord God of Israel [should] remember his holy covenant; That he would grant unto us, that we being delivered out of the hand of our [spiritual] enemies might serve him without [servile] fear, In holiness and righteousness before him, all the days of our life” (Luke 1:68-75 brackets mine). And while it has also been appropriately designated “the covenant of grace,” yet we must also remember that the Apostle Paul said, “For the grace of God-that bringeth salvation hath appeared to all men [Gentiles as well as Jews], Teaching us that, denying ungodliness and worldly lusts, we should live soberly, righteously, and godly, in this present world; looking for that blessed hope” (Titus 2:11-13, brackets mine).
The grand purpose of the everlasting covenant, as of all the Divine works, was the glory of God and the good of His people. It was designed not only as a display of the Divine munificence, but also for securing and promoting the claims of Divine holiness. God did not enter into that compact with Christ in order to set aside human accountability, nor did the Son fulfill its terms so as to render unnecessary for His redeemed a life of obedience.
Christ agreed not only to propitiate God, but to regenerate His elect. Christ undertook not only to meet all the requirements of the Law in their stead, but also to write it on their hearts and to enthrone it in their affections. Christ engaged not only to take away sin from before God, but to make it hateful and heinous to His saints. Before the world began, Christ undertook not only to satisfy the claims of Divine justice, but to sanctify His seed by sending forth His Spirit into their souls to conform them to His image and to incline them to follow the example that He would leave them. It has been far too little insisted on, in recent times, by those who have written or preached upon the Covenant of Grace, that Christ engaged not only for the debt of His people, but for their duty, too: that He should make a purchase of grace for them, including a full provision to give them a new heart and a new spirit, to bring them to know the Lord, to put His fear into their hearts, and to make them obedient to His will. He also engaged for their safety: that if they should forsake His Law and walk not in His judgments, He would visit their transgressions with the rod (Ps. 89:30-36); that if they should backslide and stray from Him, He would assuredly recover them.