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Double click a master clip to load into the source side

Then mark and In Point and an Out Point on the master clip

marking the section of the clip you want to isolate into a sub clip

Shown here you can drag the master clip icon to your

with in and out point marked and it will create a subclip in the bin

This is the icon of a subclip

This is the icon of a subclip

Master clip and a

Linked Master clip