Memorized events are events that you save as a template for future events. The way the Memorized Events are typically employed is the client takes a properly configured past event that is very similar to an upcoming event and Memorizes it.
Then the Admin or Leader can browse to Memorized Events, select the appropriate event from among all prior Memorized events, and update the date and time information and any other changes. In this fashion you can copy and resubmit a past event, and save some duplicate data entry and configuration to the extent that your events share these settings.