saḥ - that Hiraṇyākṣa; tadā - then; labdha-tīrthaḥ - having gained an excellent opportunity; api - although; na - not; babādhe - attacked; nirāyudham - having no weapon; mānayan - respecting; saḥ - Hiraṇyākṣa; mṛdhe - in battle; dharmam - the code of combat; viṣvaksenam - the Supreme Personality of Godhead; prakopayan - making angry.

Even though the demon had an excellent opportunity to strike his unarmed foe without obstruction, he respected the law of single combat, thereby kindling the fury of the Supreme Lord.