• sat - śiṣyaiḥ — by true disciples
  Compound: sat (true) + śiṣya. The verse specifies sat-śiṣya — not every disciple, but the true ones. Gauḍīyas: discipleship has a standard; mere initiation is not sufficient.
• kartavyam — to be done
  Verbal adjective from √kṛ. Vidhi-vākya — an obligatory term. Sāndīpani names total surrender as duty, not heroism.
• niṣkṛtam — repayment of one's debt
  Past participle of nis-√kṛ — discharging an obligation. The Vedic concept of ṛṇa (debt) underlies it: guru-ṛṇa is real, and it is paid by sarva-arpaṇa.
• viśuddha - bhāvena — with a completely pure attitude
  Compound: viśuddha (pure) + bhāva (attitude). Bhāva — the same word as in bhāva-bhakti. Gauḍīyas: the offering must be pure-bhāva, not mechanical. The interior intent makes the sarva-arpaṇam complete.
• sarva-artha-ātmā-arpaṇam — the offering of all one's assets and one's body
  Quadruple compound (verse: sarvārthātmārpaṇaṁ): sarva (all) + artha (wealth) + ātmā (body/self) + arpaṇa (offering). The most concise statement of total surrender in this chapter. Gauḍīyas equate it with the sixth limb of śaraṇāgati — ātma-nikṣepa.

• Bhakti Vikas Sw SB 10-80-41 - Initiation means Commitment
  His Holiness Bhakti Vikas Swami· English

The disciple has nothing of his own — wealth and even body are made over to the guru, like a tributary stream pouring entirely into the Yamunā. Sāndīpani names this as the standard. Gauḍīyas read it as guru-arpaṇa, the seed of ātma-nikṣepa, the fifth limb of śaraṇāgati.