bhagavān iti śabdyate

vadanti-they say; tat-that; tattva-vidah-the learned souls; tattvam-the Absolute Truth; yat-which; jnanam-knowledge; advayam-nondual; brahma iti-known as Brahman; paramatma iti-known as Paramatma; bhagavan iti-known as Bhagavan; sabdyate-it so sounded.