Translation
From the crossing which is done by my master with the right foot forward, I complete the first play. That is, that I pass with the left foot and put my left hand over my right arm and grab and hold his sword between his hands, in the middle of the hilt. And with cuts and thrusts I can hurt him. And this grip can be done with the sword in one or two hands. The crossing can be done above or below the hands to make such a grip.
Explanation
As the 3rd Master, both combatants had their swords crossed in the middle with the right foot forward.
Ensure that the crossing has given you a space to move into by keeping the pressure on the bind. Step through with your left foot directly down the centerline. Simultaneously advance your left hand in a straight line from your own sword, over your right arm to between your opponents hands.
You can grab their sword with your thumb down, as drawn. Alternatively, you can have your thumb up and grab from underneath. Both will work. Thumb down will provide better torque to twist the blade offline.
Pull your left elbow back to lock into your hip and twist or push your forearm to the outside. The details of what to do here is determined by the grip you have taken. Regardless, the objective is to disable the weapon and move it to the side. You will not have the leverage to strip it from your opponents hand, but you will put it out of action long enough to give you at least one good strike.
Clear your own sword by pulling it in a straight line down and to the right. Pivot on your left foot if needed to give yourself the appropriate angle and distance. A range of targets will present themselves for you to strike at.