You can make the cut using the Shift key with the razor – that cuts them all at once. Once you cut at the in point and the out point, you can use the select tool to select everything you want to delete. Then use Shift-Delete (Ripple Delete).
There is no way to select all of the tracks in order to make them all the selected track for an Extract or Lift.
Steven
http://www.stevengotz.com