Select the part you want to save as a clip, use the yellow slide, the part should be yellowish, Produce Range button, save the clip in a folder, to return to editing, automatically the clip will show in the media library room.
Note: In produce, use Intelligent SVRT if possible to avoid the video recoding.
AMD-FX 8350 / 8GB DDR3
SSD SUV400S37240G / 2-HD WD 1TB
AMD Radeon R9 270 / AOC M2470SWD
Windows 7-64 / PD16 Ultimate