“All conditioned formations are impermanent” — when one sees this with wisdom, one becomes disenchanted with suffering. This is the path of purification.

Sabbe saṅkhārā aniccāti — all conditioned formations are impermanent: the first of the three marks of existence (tilakkhaṇa). Anicca — impermanence — applied to sabbe saṅkhārā (all conditioned phenomena) without exception.

Yadā paññāya passati — when one sees this with wisdom: not intellectual understanding but direct seeing (dassana) through paññā (wisdom). This seeing is the essence of vipassanā.

Atha nibbindati dukkhe — then one becomes disenchanted with suffering: nibbindati is disenchantment, dispassion that naturally arises from seeing impermanence. It is not depression but liberation.

Esa maggo visuddhiyā — this is the path of purification: seeing impermanence directly is the very path of purification. Verses 277-279 enumerate the three marks (tilakkhaṇa) as three doors to the same path of purification.