It can easily be verified that the single condition within this formula (i.e. In a previous post (see here) I outlined a method which, given a range consisting of more than one column, returned a single column consisting of all non-blank entries from that range. which, given a single-column or single-row array, we can use to return a list of only those values which satisfy one or more criteria of our choosing.
Some of us may be familiar with the standard technique using INDEX, SMALL, etc.