You could use this type of speech in a school play if you somehow forget your lines, and you could also use it for an improv act for fun! Also you could use this in real life.
You could use this if you are presenting an award or present to someone for something, or you could also use this when you are speaking your wedding vows at a wedding, or your thoughts at a funeral.
You can use this when you are in a play, because you read the script and perform it by memory. Or you can use it at a Talent show if you are singing a song, because you have to memorize the lyrics.
You can use this in a report, like you could read it, then add in your own thoughts, or you could be speaking in a play but forget a line, and then say something else to help you out. (this reporter does that all the time with her co-reporter on the radio, it's funny :D )