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A new mode of operation of a tunnel-diode pair circuit has been developed and theory and circuit design are presented. Operation principles are discussed for damped-oscillation mode, unbalanced mode, and balanced mode with overdamping. Since the circuit has a high degree of freedom, several applications are possible, for example, as an inverter, pulse shaper, quasi-stable memory, and time-to-pulse width converter. The test circuit arrangement together with some experimental results are reported and characteristics of the different modes are discussed.