IF TEXT IS PRESENT, musical phrasing should follow textual phrasing. That is, when textual and musical phrasing seem to be in conflict (as in the highlighted spots in the example: verses 1 and 3 between measures 3 and 4, and between measures 4 and 5), usually the text should be observed.
IF NO TEXT IS PRESENT, musical phrasing may be observed on its own merits. If the composer has included phrase marks (slurs) in the score, and if you have decided that phrase breaks can be taken between each of them, an additional mark (such as a comma) is not necessary. However, you may need to indicate modifications to the indicated phrasing if following the composer's indications strictly would yield unmusical results (such as too many phrase breaks).
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