The first part means the remembrance of the names and attributes of God. Constant remembrance of a person, place or thing of one's liking. By habit, all are doing simran of of one kind or another: of our relatives and friends, riches and possessions, or name and fame, all of which are of a temporary nature, and give just a flicker of pleasure which more often than ... and Preet has to do with Love.
White Girl: Hey wats ur name??
Indian Girl: My name is Simranpreet...
White Girl: Wow! Thats a really pretty name :)