याप्ये पाशप्

Operational rule vidhi

The affix पाशप् denotes something as insignificant.

Word by word (padaccheda)

Right context याप्ये saptamī · ekavacanaSubstitute / term पाश prathamā · ekavacana

Right context Saptamī (7th case): "when X follows", the operation applies to what precedes (1.1.66 तस्मिन्निति निर्दिष्टे पूर्वस्य). Also a condition or domain ("in the sense of").
Substitute / term Prathamā (1st case): in operational rules, the substitute or the thing introduced; in definitions, the term or its referent.

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Full reading

याप्ये पाशप्

Pāṇini leaves out words that carry over from earlier sūtras. Expand to see the rule as a reader actually understands it.

Commentary

The affix पाशप् denotes something as insignificant.
The word याप्य means 'contempt, trifling' &c. Thus वैयाकरणः = वैयाकरणपाशः 'a very bad Grammarian'. So also याज्ञिकपाशः ॥ Of course this will not come in denoting a person who is a good Grammarian, but bears bad character, or who is a good performer of sacrifices but immoral.

Śrīśa Chandra Vasu, The Ashtadhyayi of Panini (1897), via ashtadhyayi.com.