Remove Edge Tools
This script will remove an edge loop and all it’s verts or remove and edge ring by collapsing it. It’s pretty simple stuff. Just select one edge and then click Remove Loop or Remove Ring. In Max 8 and above, with a Loop selected holding Ctrl while removing will do a clean remove.
I tried this script but it was not working. I have placed it into maxroot/scripts folder than run through maxscipt/runscript but there is no any UI button appeared for Remove Loop or Remove Ring. I have tried it in both max 7 and 8. So please reply how it will work.
The instructions here specifiy how to install the script:
http://monsterblues.wordpress.com/scripts/
This script is no longer necessary in Max 6 and up. Simply hold CTRL while removing edges to remove the unwanted verts.