The functionality of this option changes depending on whether or not you are working in the editor.
If you are working in the editor, or press the cut button on the editor toolbar, this option cuts the currently selected text to the clipboard.
Otherwise it copies the selected item to the clipboard, and deletes it. When items are deleted, they are actually moved to the Trash folder. When deleted from the Trash folder they are permanently removed.
You can set automatic purge options for the default and Trash folders which will cause items over a certain number of days old to be deleted on start-up. See Options for further details.
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