These commands on the Edit menu are for basic edit manipulations of selections.
Undo and Redo work as in standard Windows applications. These commands are available on the default main toolbar as well. 3ds Max also provides a history of commands. Right-clicking the Undo or Redo buttons displays a list of commands you can undo or redo. Not all operations are reversible using Undo.
The Hold and Fetch command pair serves as an alternative to Undo and Redo. Hold saves the current state of the scene. After using Hold, you can restore that state at a later point by using Fetch. Sometimes, when you are about to perform a risky operation, an alert prompts you to first use Hold.
3ds Max does not have the Cut or Paste functions found in many Windows applications. The Delete command simply removes the selection from the scene.
The Undo command reverses the last operation, including selection actions and those performed on selected objects. Redo reverses the last Undo operation.
Hold saves the scene and its settings to a disk-based buffer. Fetch restores the contents of the buffer stored by the previous Hold command. The information stored includes geometry, lights, cameras, the viewport configuration, and selection sets.
The Delete command deletes the current selection from the model.