In a previous paper we described the experiments and the framework of a model for the exchange of monooleoylphosphatidylcholine with a single egg phosphatidylcholine membrane. In the present paper a model is presented that relates the experimentally measured apparent characteristics of the overall kinetics of lysolipid exchange to the true rates of lysolipid exchange and interbilayer transfer. It is shown that the adsorption of the lysolipid follows two pathways: one through the adsorption of lipid monomers and other through the fusion of micelles. The desorption of lysolipid follows a single pathway, namely, the desorption of monomers. The overall rate of fast desorption under convective flow conditions gives the true rate of monomer desorption from the outer membrane monolayer. The overall rate of both slow lysolipid uptake and slow desorption gives the rate of interbilayer transfer. Because of the uneven distribution of lysolipid between the two monolayers during its uptake, one of the membrane monolayers is apparently extended relative to the other. This relative extension of one of the monolayers induces a monolayer tension. The induced monolayer tension can increase up to 7 mN.m-1, when most of the intercalated lysolipid only partitions into the monolayer facing the lysolipid solution. This value is similar to the measured value for the critical monolayer tension of membrane failure, which is on the order of 5 mN.m-1. The similarity of the magnitudes of the induced monolayer tension during monooleoylphosphatidylcholine exchange and the monolayer tension of membrane failure suggests that the interbilayer lipid transfer may be affected by the formation of short living membrane defects. Furthermore, the pH-induced interbilayer exchange of phosphatidylglycerol is considered. In this case, it is shown that the rate of interbilayer transfer is a function of the phosphatidylglycerol concentration in the membrane.