We repay God's favor when we praise him. When we come to him in repentance and faith, we are giving God his due. When we take the cup of salvation, celebrating God's deliverance in the Lord's Supper, we are repaying God for his gifts. When we extend the same kindness and mercy to others that God has extended to us, we are repaying that debt. We do this to give him the thanks and praise that is due his name.