Erase

Home tab > Modify panel > Erase

Select objects you want to erase, then click Erase icon on Modify panel

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OOPS command
Undo last erased objects but not created objects

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Undo

Quick Access Toolbar > Undo
Undo previous created object

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You can undo during the Draw commands, just key-in "U" if you see the Undo option on command line