Forum member Bo Clausen has some great macros (so do a search on his name… I’m pretty sure he has posted a macro that does what I am about to describe, all in one go 
)…
Anyways, these are the steps…
- Open the Part in the Key Editor, and select the desired range.
- Transport menu>“Locators to Selection” (or Key Command “P”)
- Close the Key Editor
- Edit menu>Functions>“Split Loop”
You now have your original Part split into three sections, with the MIDI content in the middle one. - Select all three Parts
- Edit menu>Process Project Logical Editor>Parts + Events>“Delete Empty Parts”