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To get the logic behind this circuit, working backwards may help. If a positive going pulse is applied to the output of the amplifier, this pulse will be transmitted to the top of the first triode's plate resistor. Since the very little voltage
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division occurs at the plate, the pulse is then relayed via the coupling capacitor to the bottom pentode's grid 1, which will force greater conduction from this tube, which in turn will pull down the output voltage of the amplifier.
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