How is memory of him lost?
Divrei Eliyahu: There is no memory that he did good deeds, for here, in Eretz ha'Chayim 1 , he did not do anything.
Malbim: There is no memory of his deeds.
I.e. in his lifetime. (PF)
What do we learn from "v'Lo Shem Lo Al Pnei Chutz"?
Divrei Eliyahu: They will not say that he did not transgress Lavim. This is the opposite of "Zecher Tzadik li'Vrachah." A Tzadik, they mention the good deeds that he did. "V'Shem Resha'im Yirkav" - not only did he not do Mitzvos Ase, rather, he also transgressed Lavim.
Malbim: His name, which is his essence (his Nefesh and Neshamah, will not remain in the higher world, which is Chutz (outside) this land.
