Well, to cleave as closely to the text, the clause: including costly components
is a guide. Costly components appear in this area of the spell write up:
Casting Time: 1 minute
Range: 30 feet
Components: V, S, M (fire and holy water)
Duration: 8 hours
So, I think it reasonable to limit the definitions of requirement to be limited to the above block :
Casting time, Range, Components, and Duration.
Anything in the body text of a spell write up is the effect of the spell, or description of the spell.
Though, 5e does not label this portion of the spell write explicitly as such, 1e spell write ups labeled the body text as “description”, 4e labeled the area as “effect”.
(2e, 3e, and 5e have no labels for the body text).
This is the easiest way to rule it, and the most parsimonious interpretation.